Pentwater Capital increases stake in TurquoiseHillRe amid push to reject RioTinto’s takeover bid Copper, Gold via CeciliaJamasmie
in publicly opposing Rio Tinto’s offer as too low, restated its discontent.
It also said it was weighing options to thwart the deal, including but not limited to the possible exercise of dissent rights or other legal action. The final bid represents a 67% premium from Turquoise Hill’s closing price of C$25.68 a share on March 11, the trading day prior toPentwater has said the proposed premium is unacceptable for a mine that it expects to be “the third largest copper and gold mine in the world with a mine life in excess of 90 years.”
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