Persistence pays off for Rio Tinto
Following the expiry of Rio Tinto's offer to buy up shares in Hathor on Friday, mining giant Rio has announced that it has now taken up 93.76% of the outstanding common shares of the Canadian uranium firm.
Following the expiry of Rio Tinto's offer to buy up shares in Hathor on Friday, mining giant Rio has announced that it has now taken up 93.76% of the outstanding common shares of the Canadian uranium firm.
Rio now intends to acquire all outstanding Hathor common shares not already purchased through a compulsory acquisition under the Canada Business Corporations Act.
In a statement Rio said that all Hathor common shares "validly deposited and not withdrawn before the expiry of the offer have been taken up and payment will be made for such shares within three business days of take-up."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The miner also intends to apply to delist the Hathor common shares from the Toronto Stock Exchange as soon as possible after the completion of the compulsory acquisition.
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Tesla seeks approval to supply electricity to UK homes – could it disrupt the energy market?
Tesla has applied for a license to supply UK households with electricity, but taking on the biggest providers could prove challenging
-
Most Brits unaware onshore bonds can help beat inheritance tax – here’s how
A little-known perk of certain types of bonds can let your loved ones off the hook when it comes to inheritance tax – but two-thirds of people have never heard of them