Ivanhoe Clears Path For Rio Tinto Takeover

Law360, New York (January 18, 2012, 8:24 PM EST) -- Canada's Ivanhoe Mines Ltd. said Wednesday it will ask shareholders to throw out a poison pill plan aimed at thwarting a takeover by mining giant Rio Tinto PLC, reversing course after an arbitrator ruled against the provision in December.

The announcement paves the way for Rio Tinto to increase its 49 percent stake in Ivanhoe without being diluted by the poison pill. Ivanhoe, which holds a 66 percent interest in the Oyu Tolgoi copper-gold-silver mine development project in southern Mongolia, said it had decided to scrap...
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