SYDNEY, June 26 (Reuters) - Rio Tinto (RIO)
on Monday confirmed Yancoal Australia (YAL) as the preferred buyer for its Australian Coal & Allied unit after the China-backed company lifted its offer to $2.69 billion to top a rival bid from Glencore . "The revised offer from Yancoal of $2.69 billion offers compelling value to our shareholders for our Australian thermal coal assets," Rio Tinto Chief Executive Jean-Sebastien Jacques said in a statement.
Glencore on Friday had raised its offer to $2.675 billion in cash, looking to displace Yancoal's earlier offer of $2.45 billion.
News: Rio Tinto confirms China-backed Yancoal as preferred buyer for coal assets
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Last
$5.42 |
Change
-0.060(1.09%) |
Mkt cap ! $7.156B | |||
| Open | High | Low | Value | Volume |
| $5.50 | $5.53 | $5.40 | $5.790M | 1.062M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 761 | $5.41 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.42 | 6078 | 1 |
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| YAL (ASX) Chart |