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Glencore increases offer to buy Rio's stake in Coal & Allied
June 23, 2017 / 1:41 PM / 5 months ago

Glencore increases offer to buy Rio's stake in Coal & Allied

June 23 (Reuters) - Miner and trader Glencore Plc said on Friday it had submitted an improved proposal to buy Australian miner Rio Tinto‘s, stake in Coal & Allied Industries Ltd for $2.675 billion in cash plus a coal price-linked royalty.

The improved offer from Glencore comes three days after Rio Tinto selected Yancoal on Tuesday to buy its Coal & Allied division in Australia for $2.45 billion. (Reporting by Rahul B in Bengaluru)

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