“The Buzz” Show: Turquoise Hill Resources (NYSE: TRQ) Rio Tinto Agrees to Buy Company | Financial Buzz

“The Buzz” Show: Turquoise Hill Resources (NYSE: TRQ) Rio Tinto Agrees to Buy Company

FinancialBuzz.com’s latest The Buzz Show: Featuring Our Corporate News Recap on “Turquoise Hill Resources Shares Rise Premarket After Rio Tinto Agrees to Buy Company”

Rio Tinto and Turquoise Hill Resources Ltd. (NYSE: TRQ) (“Turquoise Hill”) have reached an agreement in principle for Rio Tinto to acquire the approximately 49% of the issued and outstanding common shares of Turquoise Hill that Rio Tinto does not currently own for C$43 per share in cash (the “Transaction”). The agreement has the unanimous approval of the independent Special Committee of Turquoise Hill’s Board of Directors (the “Special Committee”), and values the Turquoise Hill minority share capital at approximately US$3.3 billion.

“Turquoise Hill minority shareholders will realise a significant and immediate cash premium for their shares at a time when uncertainties inherent in the development of the underground operations remain. Turquoise Hill will also avoid the issuance of any equity component as part of the US$3.6 billion incremental funding requirement through to the completion of the Oyu Tolgoi project. Securing the approval of the Special Committee to our agreement in principle, following extensive negotiations, was essential for Rio Tinto to progress this proposed transaction.”

For more information, please visit: Turquoise Hill Resources Ltd.

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