Turquoise Hill Special Committee Finds Rio Tinto’s Privatization Proposal Does Not Reflect Full & Fair Value of the Company
Turquoise Hill Resources Ltd. Ordinary Shares (TRQ)
US:NYSE Investor Relations:
turquoisehill.com/s/investors.asp
Company Research
Source: Business Wire
MONTREAL--(BUSINESS WIRE)--The Special Committee of independent directors of Turquoise Hill Resources Ltd. (TSX: TRQ) (NYSE: TRQ) ("Turquoise Hill" or the "Company") reports that it has advised Rio Tinto International Holdings Limited (“Rio Tinto”) that the Special Committee is terminating its review and consideration of Rio Tinto’s proposal to acquire all of the outstanding common shares of the Company it does not own for cash consideration of C$34 per share (the “Rio Tinto Proposal”). The Special Committee concluded, in consultation with its financial advisor, BMO Capital Markets, that Rio Tinto’s offer price of C$34 per share does not fully and fairly reflect the fundamental and long-term strategic value of the Company’s majority ownership of the Oyu Tolgoi project. In addition, the Special Committee reported that:In reaching its conclusion, the Special Committee considered a preliminary indications of value analysis conducted by TD Securities (“TD”), the independent valuator r
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