(Adds details, background)
Aug 15 (Reuters) - Turquoise Hill Resources Ltd TRQ.TO said on Monday its special committee terminated the review and consideration of Rio Tinto Ltd's (RIO) proposal to buy the rest 49% for $2.7 billion as it did not reflect the Canadian company's full and fair value.
The committee determined that Rio's offer of C$34 ($26.57) per share was not in the best interest of Turquoise Hill or its minority shareholders, the Canadian company said in a statement.
"Engagement between the parties has not resulted in a consensus on value and price or in any improved proposal from Rio Tinto," Turquoise added.
In March, Rio Tinto proposed to buy the 49% of Turquoise Hill it does not already own, paving the way for direct ownership of the massive Oyu Tolgoi copper-gold mining project in Mongolia.
Rio Tinto did not immediately respond to a Reuters request for comment. ($1 = 1.2795 Canadian dollars)
News: RIO UPDATE 1-Turquoise Hill committee terminates review of Rio Tinto's $2.7 bln offer
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Last
$113.62 |
Change
1.260(1.12%) |
Mkt cap ! $42.17B | |||
| Open | High | Low | Value | Volume |
| $112.70 | $113.70 | $112.21 | $140.8M | 1.240M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 20 | $113.60 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $113.69 | 700 | 1 |
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| Last trade - 16.10pm 08/08/2025 (20 minute delay) ? |
| RIO (ASX) Chart |