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Opinion
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Rio Tinto: Coal & Allied recommends improved proposal

Rio Tinto Limited (“Rio Tinto”) (ASX: RIO) and Mitsubishi Development Pty Ltd (“Mitsubishi Development”) note the announcement by Coal & Allied Industries Limited (“Coal & Allied”) (ASX: CNA) that it has executed a Scheme Implementation Agreement with a bid vehicle jointly owned by Rio Tinto and Mitsubishi Development, a wholly-owned subsidiary of Mitsubishi Corporation (TSE: 8058; LSE: MBC). It is proposed that Rio Tinto and Mitsubishi Development, via the jointly owned bid vehicle, will acquire all of the shares in Coal & Allied that they do not currently own under a Scheme of Arrangement (“Scheme”).

Opinion
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Rio Tinto: Coal & Allied proposal

Rio Tinto Limited (“Rio Tinto”) (ASX: RIO) notes the announcement made by Coal & Allied Industries Limited (“Coal & Allied”) (ASX: CNA) today relating to an indicative, conditional, incomplete and non-binding proposal from Rio Tinto, under which Rio Tinto and Mitsubishi Development Pty Ltd (“Mitsubishi Development”), a wholly-owned subsidiary of Mitsubishi Corporation (TSE: 8058; LSE: MBC), would acquire all of the shares in Coal & Allied they do not already hold under a joint takeover (“Proposal”).