Turquoise Hill: Rio abandons securityholder deal in Turquoise Hill bid

Diversified miner Rio Tinto has suffered a set-back in its bid to require the remaining interest in Turquoise Hill Resources, with the miner forced to abandon its sideline agreement with securityholders Pentwater Capital Management and SailingStone Capital Partners. Under the agreement with the securityholders, which was signed in early November, the securityholders agreed to withhold their votes at Turquoise Hill's special meeting and exercise their dissent rights in respect of Rio's proposed C$43 a share acquisition of the remaining 49% interest in Turquoise Hill.