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(Reuters) -Rio Tinto on Wednesday said two key investors in Turquoise Hill Resources agreed to withhold their votes at a meeting to decide on the global miner's $3.3 billion offer for the Canadian firm.
Pentwater, Turquoise's second-largest shareholder, and SailingStone Capital Partners will also exercise their dissent rights, and Rio will increase the dissent condition under its proposal to 17.5% of issued Turquoise Hill shares from 12.5%.
Dissent rights allow shareholders to sell their stake...
>>> Read more: Two Turquoise Hill investors to withhold votes on Rio Tinto's $3.3 billion bid
Pentwater, Turquoise's second-largest shareholder, and SailingStone Capital Partners will also exercise their dissent rights, and Rio will increase the dissent condition under its proposal to 17.5% of issued Turquoise Hill shares from 12.5%.
Dissent rights allow shareholders to sell their stake...
>>> Read more: Two Turquoise Hill investors to withhold votes on Rio Tinto's $3.3 billion bid
