Turquoise Hill Acknowledges Increased C$40 per share Privatization Proposal from Rio Tinto

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MONTREAL -- Turquoise Hill Resources Ltd. (TSX: TRQ) (NYSE: TRQ) ("Turquoise Hill" or the "Company") acknowledges the receipt today of an improved non-binding proposal from Rio Tinto International Holdings Ltd. ("Rio Tinto"), to acquire all of the outstanding common shares of the Company it does not own for cash consideration of C$40 per share (the “New Rio Tinto Proposal”). Rio Tinto has stated that the New Rio Tinto Proposal is conditional on, among other things, Turquoise Hill not raising additional equity capital. Read More ...

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