China-controlled Yancoal Australia added new incentives to its offer for Rio Tinto Group’s Australian coal assets to fend off a last-minute challenge by rival Glencore, according to a person with knowledge of the situation.
Yancoal submitted a revised offer and will release details of the proposal Monday morning in London, said the person, who asked not to be identified as the information isn’t public. The value of the offer will remain at $2.45-billion but will include new incentives that may make it more attractive to Rio, said the person.
