The company’s chief executive said the job cuts have been the “most difficult decision” he has made. Read More...
Reuters
Rio to proceed with Turquoise bid after talks with key minority shareholders end
Rio terminated its negotiations with Pentwater Capital and SailingStone Capital, which own a stake of 15.2% and 2.2%, respectively, in Turquoise Hill, after they were unsuccessful, the miner said. Rio Tinto Copper Chief Executive Bold Baatar said, “We have acknowledged feedback received from minority shareholders and returned to the proposal originally unanimously recommended by the Turquoise Hill Special Committee.” Pentwater and SailingStone, opposed to Rio’s C$43 per share cash offer for Turquoise’s 49% stake, exercised their dissent rights earlier this month.
