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Benzinga
Benzinga
Business
Adam Eckert

Why Turquoise Hill Resources Stock Is Rising Today

Turquoise Hill NYSE Rio Tinto Rio Tinto PLC Turquoise Hill Resources Ltd

Turquoise Hill Resources Ltd (NYSE:TRQ) is trading higher Monday after Rio Tinto PLC (NYSE:RIO) proposed to acquire the company for CAD$34 ($26.66) per share in cash.

Rio Tinto currently owns about 51% of Turquoise Hill. The proposal would allow the company to acquire the approximately 49% of the issued and outstanding shares of Turquoise Hill that Rio Tinto doesn't currently own.

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