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Reuters reported Rio Tinto (NYSE:RIO,ASX:RIO) has accepted an offer from China Guangdong Nuclear Power for its stake in Extract Resources (TSX:EXT,ASX:EXT).
Reuters reported Rio Tinto (NYSE:RIO,ASX:RIO) has accepted an offer from China Guangdong Nuclear Power for its stake in Extract Resources (TSX:EXT,ASX:EXT).
As quoted in the market news:
Monday’s move had been expected after Rio accepted CGNPC’s bid for its separately held stake in Extract’s 42 percent shareholder, Kalahari Minerals, in January.
Australian-listed Extract’s board backed the $2.4 billion Chinese offer earlier this month.