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Article: Rio Tinto Acquires 49.82% of Ashton and Announces Increase in Its Offer.
- Article from:
- Business Wire
- Article date:
- November 6, 2000
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Business Editors
LONDON--(BUSINESS WIRE)--Nov. 6, 2000
Rio Tinto (NYSE:RTP) has acquired a relevant interest in 161,379,101 Ashton shares, representing approximately 49.82% of the company. This follows receipt of acceptances from Malaysia Mining Corporation Berhad in respect of its entire 49.72% holding.
Following these acceptances, Rio Tinto intends, as soon as practicable, to take the necessary steps to increase its Offer to the following:
(a) $2.20 cash for each Ashton share;