An independent arbitrator cleared the way on Tuesday for mining group Rio Tinto Plc/Ltd to take over Ivanhoe Mines Ltd, saying the $16 billion Canadian group's "poison pill" defence was not valid.Anglo-Australian Rio Tinto, which owns 49 percent of Ivanhoe, has long been expected to bid for the company, coveting its majority stake in the massive Oyu Tolgoi copper and gold project in Mongolia.The arbitrator ruled a "poison pill" takeover defence put up by Ivanhoe does not apply to Rio Tinto, leaving the Vancouver-based firm vulnerable to Rio's advances.Rio said it reserved the right to increase its holding to a majority position from Jan. 19, when an agreement limiting its stake expires, but added it currently had "no intention of making a full takeover bid for Ivanhoe's shares".
Ivanhoe Mines Ltd. ((IVN) is an international mineral exploration and development company. Shares of IVN remained unchanged at $21.28. In the past year, the shares have traded as low as $12.85 and as high as $28.98. On average, 1170530 shares of IVN.TO exchange hands on a given day and today's volume is recorded at 657957.
Ivanhoe Mines Ltd. ((IVN) is an international mineral exploration and development company. Shares of IVN remained unchanged at $20.70. In the past year, the shares have traded as low as $12.11 and as high as $29.29. On average, 3779540 shares of IVN exchange hands on a given day and today's volume is recorded at 25120.
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