Gary Bourgeault • 11 Comments
Mar. 6, 2014, 6:37 PM
- Turquoise Hill Resources (TRQ) +4.1% AH on speculation from the Daily Mail that Rio Tinto (RIO) is preparing to bid ~$8/share for the outstanding 49.2% of the company it doesn't already own.
- Billionaire Robert Friedland holds 3% of TRQ is said to have been against selling out to RIO until recently.
- TRQ holds 66% of the massive Oyu Tolgoi copper and gold mine, but progress on the $6B second stage of the project has been held up by RIO’s inability to strike an agreement with the Mongolian government.
Jul. 3, 2012, 9:06 AM
Ivanhoe Mines (IVN) and Chalco (ACH) agree to extend the deadline for their takeover bid for SouthGobi Resources (SGQRF.PK) to Aug. 3. ACH seeks to make a proportional takeover bid for up to 60% but not less than 56% of SouthGobi common shares at C$8.48/share. IVN +0.5%, ACH -1.5% premarket.| Jul. 3, 2012, 9:06 AM | 1 Comment
Jun. 11, 2012, 8:06 AMSingapore's state-owned investment firm, Temasek, continues its diversification into resources firms, buying 5.5% in Canada's Ivanhoe Mines (IVN). Given the Canadian firm's $7.75B market cap, the deal would be worth $426M. | Jun. 11, 2012, 8:06 AM
Apr. 23, 2012, 1:36 PM
Invesco (IVN) is attempting to unload its Atlantic Trust Private Wealth Management business ($18B in assets), according to sources, reports Reuters.| Apr. 23, 2012, 1:36 PM
Apr. 2, 2012, 3:25 AM
Chalco (ACH) bids for a controlling stake in Mongolia-focused miner SouthGobi Resources (SGQRF.PK), offering C$8.48/share vs. SouthGobi's previous Toronto close of C$6.44. The U.S. dollar value of the deal would be nearly $930M. Ivanhoe Mines (IVN), which owns ~58% of SouthGobi, looks favorably on the offer.| Apr. 2, 2012, 3:25 AM
Jan. 26, 2012, 6:11 PM
Ivanhoe Mines (IVN) gains 3.8% AH after Rio Tinto (RIO) confirms through a 13D filing it has a 51% stake in Ivanhoe. Rio Tinto adds it's engaged in "a review of the composition of the Company’s board of directors and management," and plans to replace certain board and management figures. (previously)| Jan. 26, 2012, 6:11 PM
Jan. 24, 2012, 12:03 PM
Dec. 13, 2011, 11:39 AM
Execs with Ivanhoe Mining (IVN -15.5%) say the firm is evaluating legal options following its courtroom battle loss to keep a poison pill in place in its bid to stave off Rio Tinto (RIO +0.8%) from acquiring the company. Rio's maximum permitted interest in Ivanhoe is capped at 49% until Jan. 18, 2012.| Dec. 13, 2011, 11:39 AM | 3 Comments
Dec. 13, 2011, 7:37 AM
The path is open for Rio Tinto (RIO) to take over Canada's Ivanhoe Mines (IVN), in which it already owns 49%, after an arbitrator ruled that Ivanhoe's "poison pill" takeover defense doesn't apply to Rio. Controlling Ivanhoe, which is worth $15.3B, will give Rio a majority stake in the massive Oyu Tolgoi copper and gold project in Mongolia.| Dec. 13, 2011, 7:37 AM
Oct. 25, 2011, 10:58 AMOptions traders are betting that Ivanhoe Mines (IVN -0.2%) will be ripe for a takeover by March, once the company resolves arbitration with Rio Tinto (RIO -3.6%). “Ivanhoe would be attractive to a large buyer like Rio Tinto,” an Oscar Gruss analyst says. “The idea may be to buy assets close to China so you can supply the market without having large shipping expenses." | Oct. 25, 2011, 10:58 AM | 1 Comment