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Rio Tinto CEO Makes Clear That Offer Is Final on Giant Copper Mine

Jakob Stausholm

Jakob Stausholm

Photographer: Victor J. Blue/Bloomberg

Rio Tinto Plc Chief Executive Jakob Stausholm made it clear Tuesday that its offer is final to take over a company that is behind one of the world’s largest copper mines.

Speaking during an interview at Bloomberg News headquarters in New York, Stausholm said the world’s second-largest miner has made a full offer to acquire full ownership of Turquoise Hill Resources Ltd. Rio will not make any more offers if it’s rejected by minority shareholders, despite criticism from a top investor saying the offer undervalued the project. The comments comes weeks after Rio agreed to buy out the 49% stake in Turquoise Hill it doesn’t already own in a deal valued at about $3.3 billion.