|Bid||277.15 x 1586300|
|Ask||277.20 x 294500|
|Day's Range||276.50 - 283.70|
|52 Week Range||134.10 - 347.00|
|PE Ratio (TTM)||28.58|
|Dividend & Yield||0.07 (1.95%)|
|1y Target Est||N/A|
Glencore Plc’s years-long pursuit for a bigger Australian coal business was delivered another setback on Monday after Rio Tinto Group passed on the company’s offer for a second time.
SYDNEY/LONDON, June 26 (Reuters) - Rio Tinto on Monday confirmed Yancoal Australia as the preferred buyer for its Australian Coal & Allied unit after the China-backed company added an eleventh-hour sweetener to top a rival bid from Glencore. Rio's mines in Australia's Hunter Valley region are attractive to both Glencore and China because the quality of their coal means it is likely to continue to be burnt even as concerns about emissions deter generators from using poorer quality coal, which is the most polluting of all. "The revised offer from Yancoal of $2.69 billion offers compelling value to our shareholders," Rio Tinto Chief Executive Jean-Sebastien Jacques said in a statement.
Glencore suffered another setback in the bidding for Australian coal mines, after the commodity giant’s rival Rio Tinto said it would rather take a sweetened offer from a Chinese-owned company.