Rio Tinto enters into a binding agreement to acquire full ownership of Turquoise Hill Rio Tinto plc (LON:RIO) has entered into a binding agreement to acquire all of the remaining shares of Turquoise Hill Resources Ltd (NYSE: TRQ) that Rio Tinto does not currently own. The Independent Directors of Turquoise Hill have unanimously recommended that Turquoise Hill minority shareholders vote in favour of the Transaction and, together with senior officers of Turquoise Hill, have entered into voting support agreements with respect to all of the Turquoise Hill shares they own or control. The Transaction delivers significant value to Turquoise Hill minority shareholders with the certainty of an all-cash offer of C$43 per share, which is Rio Tinto''s best and final offer. This represents a premium of 67% to Turquoise Hill''s closing price of C$25.68 per share on 11 March 2022, the day prior to Rio Tinto''s initial public proposal to acquire Turquoise Hill. Rio Tinto has agreed to provide Turquoise Hill with secured short-term liquidity during the Transaction period of up to US$1.1 billion (subject to certain pre-conditions), which would need to be repaid from an equity raising from shareholders in the first half of 2023 if the Transaction is not approved by shareholders.