Rio Tinto Nears Compulsory Acquisition of Hathor

Mineweb reported Rio Tinto (NYSE:RIO) has acquired 84.26% of shares in Hathor (TSX:HAT) nearing the level required to begin a compulsory acquisition.

As quoted in the market news:

According to Rio Tinto it has bagged 84.26 percent of outstanding Hathor shares.

That leaves it a little more than 5 percent shy of the 90 percent bar it needs to climb over if it intends to enact compulsory acquisition of remaining Hathor shares per Canadian securities regulations.

Click here to read the full Mineweb report.