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(Reuters) - SailingStone Capital Partners, the fifth-biggest investor in Turquoise Hill Resources Ltd, said on Friday it will vote against Rio Tinto Group's bid to buy the company for $3.3 billion, during a shareholder meeting on Nov. 1.
Rio's bid undervalues the Canadian miner, SailingStone said in a statement, adding that the offer attempts to take advantage of the "material governance failures" created by independent directors of both companies over the last decade.
Mining giant Rio Tinto a...
>>> Read more: Turquoise Hill investor SailingStone to vote against Rio's buyout bid
Rio's bid undervalues the Canadian miner, SailingStone said in a statement, adding that the offer attempts to take advantage of the "material governance failures" created by independent directors of both companies over the last decade.
Mining giant Rio Tinto a...
>>> Read more: Turquoise Hill investor SailingStone to vote against Rio's buyout bid
