Deals
Rio Tinto Doesn’t Plan Ivanhoe Bid After Arbitration Ruling
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Rio Tinto Group, the world’s third-biggest mining company, said it won’t seek full control of Mongolian project partner Ivanhoe Mines Ltd. after an arbitrator ruled in its favor in a shareholding dispute.
Rio said today it may seek to boost its Ivanhoe stake to a “majority position” after the expiry of a Jan. 18 deadline, without any plans for a full takeover bid. Ivanhoe, 49 percent owned by London-based Rio, slumped as much as 17 percent in Toronto trading.