RE:China Yancoal buys Rio Tinto coal mines for 2.45B
There has been much speculation since March 16. https://www.smh.com.au/business/mining-and-resources/turquoise-hill-could-be-the-new-black-for-acquisitive-miner-rio-tinto-20160302-gn8dn7.html Post Mongolian elections TRQ hit 3.67 in July but JSJ denied the rumours. RIO is looking for a Chinese partner to privatise and they have been paying down debt and raising cash with asset sales with concentrated focus on copper in future. JSJ is now facing a rising Cu so he is pushed for time. Note that copper output in OT is on low grade phase this year so they may try a cheap buyout. I am sure they are in talks with Sailing Stone, Pentwater and Temasek. A buyout soon perhaps for $8? Or we wait till 2019 for $1B EBITA which should give a valuation north of $10. Lets hope for a breakout above 3.67 in the coming days! Anyone wanna speculate on buyout price?