Rio Tinto, Ivanhoe Scrap Over Poison Pill Plan

Law360, New York (July 12, 2010, 1:17 PM EDT) -- Canada's Ivanhoe Mines Ltd. said Monday it would stand behind its shareholders' rights plan in the face of an arbitration proceeding launched by its largest shareholder, mining and exploration giant Rio Tinto.

David Huberman, lead independent director of the Ivanhoe Mines board of directors, said Monday the company “firmly believes” that the shareholders' rights plan, adopted in April, does not run afoul of any of Rio Tinto's existing contractual rights.

Rio Tinto, which currently owns 29.6 percent of Ivanhoe Mines, announced Friday that it was filing...
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