Glencore increases offer for Coal & Allied
(WorldNews Switzerland)

Glencore plc Baar, Switzerland 23 June, 2017 Glencore increases fully funded offer for Coal & Allied Glencore has submitted an improved irrevocable binding offer (`Glencore Offer`) to acquire Rio Tinto`s 100% interest in Coal & Allied Industries Limited (`C&A`) for US$2.675 billion cash plus a coal price linked royalty. All cash is payable in full immediately upon completion. The Glencore Offer is fully funded and subject only to a limited number of regulatory approvals. Improved Offer Glencore`s Offer has been designed to address the points raised in Rio Tinto`s announcement dated 20 June 2017 as follows. · Value: Glencore`s Offer is at least US$225 million greater than Yancoal`s proposal....