Diversified major Rio Tinto on Monday confirmed that it had received an improved offer from fellow diversified miner Glencore for its Australia subsidiary Coal & Allied (C&A).
Glencore at the end of last week upped its offer from its initial $2.55-billion to $2.67-billion after Rio Tinto backed a $2.45-billion offer from Yancoal for the C&A assets, with Yancoal’s offer already having received Japanese regulatory approval.
