Turquoise Hill further delays shareholder meet on $3.3 billion Rio Tinto buyout

Charotar Globe Daily

(Reuters) – Canadian miner Turquoise Hill Ltd said it has once again postponed by a week its special shareholder meeting to vote on the proposed take over by Rio Tinto Plc on a request by the mining giant.

The meeting to approve Rio Tinto acquiring 49% of shares of Turquoise Hill that it does not own for $3.3 billion, which was originally scheduled for Nov. 1, was postponed to Nov. 8, and now has been pushed back to Nov. 15.

Turquoise Hill said Rio, which raised its offer to C$43-per-share, had postponed the meeting at the request of the financial regulator of Quebec and was in talks with the Canadian company’s special committee of independent directors and the regulator about the deal.

(Reporting by Gokul Pisharody in Bengaluru; Editing by Dhanya Ann Thoppil)

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