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

(Image courtesy of Erdenes Oyu Tolgoi LLC.)

Turquoise Hill said it has once again postponed by a week its special shareholder meeting to vote on the proposed takeover by Rio Tinto 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, initially scheduled for Nov. 1, was postponed to Nov. 8, and has now 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.

(By Gokul Pisharody; Editing by Dhanya Ann Thoppil)


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