NAPLES, Fla., November 1, 2022 /CNW/ – Pentwater Capital Management LP (“Pentwater“) announced today that it, certain funds and other entities controlled and directed by Pentwater and its affiliates, and certain joint stakeholders of Pentwater (collectively, the “pentwater parties“) have entered into an agreement (which “approval“) with Rio Tinto International Holdings Limited and Rio Tinto plc (together “Rio Tinto“) in relation to the Extraordinary General Meeting (the “special session“) by Turquoise Hill Resources Ltd. (“Turquoise Hill“) to hold on to November 8, 2022 on the acquisition of Rio Tinto by Plan of Arrangement (the “arrangement“) of approximately 49% of the issued and outstanding common shares of Turquoise Hill (the “common shares“) that Rio Tinto does not own for Cdn. $43.00 per common share in cash (the “thoughtfulness“).
As part of the Arrangement, the Pentwater parties have agreed to withhold their votes at the special meeting and have provided notices of the exercise of their rights to object to the Arrangement. The Pentwater parties have also agreed to limitations on their ability to purchase or sell common stock. Rio Tinto has agreed to increase the opt-out requirement of the Arrangement from 12.5% to 17.5% of the issued and outstanding common shares. As part of the Agreement, the Pentwater Parties and Rio Tinto have also agreed that the opposition proceedings with the Pentwater Parties and certain other claims…
