Turquoise Hill investor SailingStone opposes Rio takeover
SailingStone Capital Partners, a long-time investor in TSX- and NYSE- listed Turquoise Hill Resources, will vote against the copper/gold company’s takeover by majority shareholder Rio Tinto at a shareholders’ meeting on November 1.
The C$43-a-share offer that a special committee of independent directors at Turquoise Hill recommended that minority shareholders accept, “significantly undervalued” Turquoise Hill, SailingStone said on Friday.