Rio Tinto receives Canadian Competition Bureau clearance for its offer for Hathor Exploration
LONDON, UK, Nov. 22, 2011 /CNW Telbec/ - Rio Tinto today received Canadian Competition Bureau clearance for its offer, made through an indirect wholly-owned Canadian subsidiary, to acquire all the common shares of Hathor Exploration Limited ('Hathor') for C$4.70 in cash per common share.
The Commissioner of Competition issued a 'no action letter' which constitutes compliance with all requirements of the Competition Act (Canada) in relation to Rio Tinto's offer for Hathor.
Rio Tinto's recommended offer values Hathor at approximately C$654 million on a fully-diluted basis and represents a premium to the unsolicited revised offer of Cameco Corporation's of C$4.50 per common share of Hathor made on 14 November.
Hathor's board of directors unanimously recommends that Hathor shareholders accept and tender their common shares to Rio Tinto's offer which is open for acceptance until 5:00pm (Toronto time) on 30 November 2011, unless extended or withdrawn in accordance with its terms.
Shareholders with questions regarding Rio Tinto's offer can contact Rio Tinto's information agent, Laurel Hill Advisory Group toll free at 1-877-452-7184or collect call at 416-637-4661 or email assistance@laurelhill.com.
About Rio Tinto in Canada
Rio Tinto employs over 13,400 people across its extensive operations in Canada, which include mining and manufacturing interests in alumina, aluminium, iron ore, diamonds and titanium dioxide. Rio Tinto also operates exploration activities, research and development centres, port and rail facilities to support various businesses, technical and sales service centres, and substantial hydroelectric power facilities in British Columbia and Quebec. In addition, Canada is home to the global headquarters of Rio Tinto Alcan.
About Rio Tinto
Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and New York Stock Exchange listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange.
Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, thermal and metallurgical coal, uranium, gold, industrial minerals (borax, titanium dioxide and salt) and iron ore. Activities span the world and are strongly represented in Australia and North America with significant businesses in Asia, Europe, Africa and South America.
RIO TINTO PLC
CONTACT:
Media Relations, EMEA / Investor Relations, London
Americas Mark Shannon
Illtud Harri Office: 44 (0) 20 7781 1178
Office: 44 (0) 20 7781 1152 Mobile: 44 (0) 7917 576597
Mobile: 44 (0)7920 503 600 David Ovington
Tony Shaffer Office: 44 (0) 20 7781 2051
Office: 44 (0) 20 7781 1138 Mobile: 44 (0) 7920 010 978
Mobile: 44 (0) 7920 041 003
Christina Mills
Office: 44 (0) 20 7781 1154
Mobile: 44 (0) 7825 275 605
Media Relations, Australia / Investor Relations, Australia
Asia Dave Skinner
David Luff Office: 61 (0) 3 Office: 61 (0) 3 9283 3628
9283 3620 Mobile: 61 (0) 408 335 309
Mobile: 61 (0) 419 850 205 Christopher Maitland
Karen Halbert Office: 61 (0) 3 9283 3063
Office: 61 (0) 3 9283 3627 Mobile: 61 (0) 459 800 131
Mobile: 61 (0) 412 119 389
Bruce Tobin
Office: 61 (0) 3 9283 3612
Mobile: 61 (0) 419 103 454
Media Relations, Canada Investor Relations, North America
Bryan Tucker Jason Combes
Office: 1 (0) 514 848 8151 Office: 1 (0) 801 204 2919
Mobile: 1 (0) 514 825 8319 Mobile: 1 (0) 801 558 2645
Website: www.riotinto.com
Email: media.enquiries@riotinto.comenquiries.mediaaustralia@riotinto.com
Twitter: Follow @riotinto on Twitter
High resolution photographs and media pack available at: www.riotinto.com