Rio Tinto May Boost Ivanhoe Stake After Arbitration Win

Law360, New York (December 13, 2011, 2:55 PM EST) -- Mining giant Rio Tinto PLC said Tuesday that it won't mount a full takeover bid for Canada's Ivanhoe Mines Ltd. but could seek a majority stake in the company after an arbitrator upheld its challenge to a poison pill plan that Ivanhoe's board adopted in 2010.

Rio Tinto launched arbitration proceedings over Ivanhoe's shareholder rights plan, claiming it ran afoul of Rio Tinto's rights under an October 2006 private placement agreement between the companies. Ivanhoe, which holds a 66 percent interest in the Oyu Tolgoi copper-gold-silver...
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