Rio Tinto CEO Makes Clear That Offer Is Final on Giant Copper Mine

Rio Tinto Plc Chief Executive Jakob Stausholm made it clear Tuesday that its offer is final to take over a company that is behind one of the world’s largest copper mines.

Speaking during an interview at Bloomberg News headquarters in New York, Stausholm said the world’s second-largest miner has made a full offer to acquire full ownership of Turquoise Hill Resources Ltd. Rio will not make any more offers if it’s rejected by minority shareholders, despite criticism from a top investor saying the offer undervalued the project. The comments comes weeks after Rio agreed to buy out the 49% stake in Turquoise Hill it doesn’t already own in a deal valued at about $3.3 billion.