why didnt the chinalco and rio tinto deal go ahead

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Rio Tinto Scuttles Its Deal With Chinalco

5 Jun 2009 Rio Tinto walked away from a proposed $19.5 billion deal with Chinalco, setting Don't miss another deal: Click here to automatically sign up for Deals Alert emails. It said the move would reduce its net debt to $23.2 billion. Afterward, China turned inward, and then focused on Central Asian, African...

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Rio Tinto rejects China for $15.2bn rights issue, BHP deal

5 Jun 2009 Rio Tinto will raise $15.2bn (£9.3bn) in a rights issue and set up a B" to address its debt burden if the deal with Chinalco did not go ahead....

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State

29 Oct 2018 State-owned mining giant Aluminum Corp. of China's (Chinalco's) efforts to take over an iron ore Yet the deadline for the deal's completion has now passed, Rio Tinto said in a statement on Monday. While the statement did not explain the reason for the lapse, Reuters reported in July that Chinalco...

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Rio Tinto to China: Thanks, But No Thanks

7 Jun 2009 Rio Tinto's announcement that the company would not accept Chinalco's bid for a stake in the Australian company is A lot of good it did him. On June 5, Rio Tinto told Chinalco that their deal would not go through after all....

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Chinalco may revise Rio deal

4 Jun 2009 Chinalco pressing for deal change before June 14. in miner Rio Tinto before a June 14 deadline to avoid further delays in Australian government approval, Swan has the final say on whether it will go ahead. reduced below 15 per cent and did not want to see any changes to the asset side of the deal....

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Chinalco | The Business of Mining

Chinalco owns a significant stake of Rio Tinto, which became the majority Chinalco is seeking to move into mining to take advantage of the Minmetals on Sunday night said its all-cash offer of C$7 per share, a 23 per cent China and Chinese companies, as brought in by Bellzone and Bellzone, don't subscribe to the...

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Rio Tinto Deal Reveals Some Interesting Faces In Finance

23 Mar 2010 Rio Tinto/Chinalco deal has the world of metals and mining in a stir, but what is really going on behind the scenes for some of the world's...

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Rio Tinto walks away from $19.5 billion Chinalco deal

5 Jun 2009 Miner Rio Tinto scrapped a planned $19.5 billion tie-up with China's Chinalco The collapse of the Chinalco deal, put together in February in a bid to halve Rio's $38 raised concerns about BHP's proposed takeover of Rio due to the impact on iron ore markets. Worry about the hackers you don't know....

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Did China Hack Rio Tinto to Gain a Billion

12 Jul 2018 In 2010, four employees of the mining giant were jailed and accused of stealing commercial secrets. Today, the company is more reliant on...

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Rio Tinto Ends Plan to Sell $19.5 Billion Stake to Chinalco

4 Jun 2009 The board of Rio Tinto announced the decision after meeting in London on Thursday, saying the company had ended the deal it struck in...

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China will learn from failed Chinalco

7 Jun 2009 The collapse of the planned $19.5bn investment by Chinalco in Anglo-Australian miner Rio Tinto is The move also disrupted a planned takeover of Rio by rival BHP The deal's failure is a setback on the long march of China's big They...

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Guinea's Simandou iron ore project uncertain after Rio Tinto

18 Sep 2020 Both Rio Tinto's CEO and the iron ore division head will be leaving the Australian mining giant. blasting to expand the Brockman 4 iron ore mine, which went ahead despite of the Simandou iron ore deposit in Guinea, a project he didn't believe in. Also receive offers from The Africa Report's partners....

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Rio Tinto confirms it rejected Glencore takeover bid

7 Oct 2014 Anglo-Australian mining group Rio Tinto says it rejected a takeover bid by out Rio Tinto's largest shareholder, Chinalco (Aluminium Corporation of But the deal only went through on condition that Glencore sold its stake in...

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China's Outward FDI and Resource

the deal, initially struck at a time when Rio Tinto was on the verge of collapse. 2009 Chinalco went on to agree with a further $19.5 billion injection in Rio Tinto. This Rio Tinto bought Alcan for $38.6bn, but did so incurring $34bn of debts...

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Rio Tinto set to quit Guinea iron ore project with sale to Chinalco

28 Oct 2016 If the deal to sell out to Chinalco goes ahead, Rio Tinto will receive payments of between $1.1 billion and $1.3 billion based on the timing of the...

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Rio Tinto espionage case

The Rio Tinto espionage case began with the arrest on 5 July 2009, of four staff in the Ge Minqiang and Liu Caikui, went on trial in Shanghai on Monday, 22 March Chinalco currently owns 9.3% of Rio Tinto; the additional investment would The proposed deal met strong political opposition in Australia, and Rio Tinto...

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BHP, Rio and the doomed $40 billion Chinalco deal: Who

3 Aug 2018 Ten years ago Rio Tinto was advised five or six sovereign governments and the agreement it was supposed to conclude, never went ahead. "We didn't even bother calling Chinalco," says one person involved in the deal....

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(PDF) China's Outward FDI and Resource Seeking Strategy: A

2 Oct 2020 the deal, initially struck at a time when Rio Tinto was on the verge of collapse. 2009 Chinalco went on to agree with a further $19.5 billion injection in Rio Oct 2007 Rio Tinto bought Alcan for $38.6bn, but did so incurring...

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Rio Tinto deal with Chinalco collapses | Business | The

4 Jun 2009 Tom Albanese, the Rio chief executive, is now focusing on a $12bn the Chinalco deal had been negotiated at a time when Rio Tinto was on its knees. it was obvious that Chinalco was going to have to give some ground....

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The Rio Tinto Affair

Chinalco. Concurrently, Rio Tinto was also negotiating a contract with the China Steel On 5 July 2009, China arrested China-born Australian Stern Hu, the chief negotiator However, these reforms have been going on since 2003. example, why did the Chinese government pick Stern Hu, the head representative of a....

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Chinese Perspectives on Investing in Australia

Review Board in dealing with Chinese investors and officials. about China as owner and customer; and, going further, Australian (and During this protracted process, the Treasurer did approve Chinalco's acquisition of shares in Rio Tinto....

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Chinalco, Alcoa Take 12% Stake in Rio Tinto

1 Feb 2008 John Meyer, head of resources at Fairfax, agreed. "If BHP wants this deal to go through, I think they have to offer some cash. I simply don't think...

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Chinalco, Rio deal collapses

5 Jun 2009 THE biggest investment deal in both Australian and Chinese corporate of whether to accept or block the deal on national interest grounds. "Rio Tinto has informally notified Chinalco over the past day or so it will be...

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