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By Clara Denina
LONDON (Reuters) -Activist investor Pentwater Capital Management, the largest minority shareholder of Canada's Turquoise Hill with a 10% stake, has rejected a $2.7 billion bid for the copper producer by Rio Tinto as too low.
Anglo-Australian Rio Tinto, on Monday proposed to buy out the 49% minority shareholders in Turquoise Hill for about $2.7 billion in cash, paving the way for direct ownership of a massive copper-gold mining project in Mongolia.
"It is highly improbable that...
>>> Read more: Turquoise Hill investor Pentwater says $2.7 billion Rio bid too low -letter
LONDON (Reuters) -Activist investor Pentwater Capital Management, the largest minority shareholder of Canada's Turquoise Hill with a 10% stake, has rejected a $2.7 billion bid for the copper producer by Rio Tinto as too low.
Anglo-Australian Rio Tinto, on Monday proposed to buy out the 49% minority shareholders in Turquoise Hill for about $2.7 billion in cash, paving the way for direct ownership of a massive copper-gold mining project in Mongolia.
"It is highly improbable that...
>>> Read more: Turquoise Hill investor Pentwater says $2.7 billion Rio bid too low -letter
