LONDON, June 9 (Reuters) - Glencore
on Friday said it had bid for coal mines owned by Rio Tinto (RIO) in Hunter Valley, Australia, offering $2.55 billion cash plus a coal price linked royalty, outbidding a previous offer from Yancoal. In January, Rio said it was selling its interest in Coal & Allied Industries Limited to Yancoal Australia Limited for $2.45 billion.
The terms of the deal allowed Rio to engage in negotiations with another party if Rio's board found "a competing proposal is (or is reasonably likely to become) a superior proposal," Glencore said.
It said its proposal, which was $100 million greater, met the criteria.
Glencore said the proposal would be funded from existing cash resources and committed facilities, although it also said there was no certainty a deal would be agreed.
News: UPDATE 1-Glencore outbids Yancoal for Rio Tinto coal mines in Hunter Valley
-
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
$5.47 |
Change
0.050(0.92%) |
Mkt cap ! $7.216B | |||
| Open | High | Low | Value | Volume |
| $5.45 | $5.52 | $5.44 | $2.746M | 502.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 20 | 2599 | $5.46 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.47 | 20961 | 19 |
View Market Depth
| Last trade - 12.02pm 29/08/2025 (20 minute delay) ? |
| YAL (ASX) Chart |