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Shares of Turquoise Hill Resources (NYSE: TRQ) jumped on Thursday after the Canadian mineral exploration and development company struck a deal to be acquired by mining giant Rio Tinto (NYSE: RIO). As of 3:15 p.m. ET, Turquoise Hill's stock price was up more than 13%. Under the terms of the agreement, Rio Tinto will buy the roughly 49% of Turquoise Hill's stock it doesn't already own for 43 Canadian dollars ($32.68) per share.
>>> Read more: Why Turquoise Hill Stock Surged Today
>>> Read more: Why Turquoise Hill Stock Surged Today
