20 Jun Rio Tinto prefers Yancoal to Glencore for Australian coal assets sale
The Rio Tinto board has reconfirmed its recommendation to accept Yancoal’s US$2.45 billion bid for its Hunter Valley coal mining division Coal & Allied, after Glencore made a counter offer. Yancoal came back with improved terms which the board accepted, despite Glencore’s $2.55 billion bid offering...