June 23 (Reuters) - Glencore Plc GLEN.L :
* Glencore increases offer for Coal & Allied
* Says Glencore increases fully funded offer for Coal & Allied
* Has submitted an improved irrevocable binding offer to acquire Rio Tinto's 100% interest in Coal & Allied Industries for US$2.675 billion cash plus a coal price linked royalty
* Says offer has been designed to address points raised in Rio Tinto's announcement dated 20 June 2017
* Glencore offer is fully funded and subject only to a limited number of regulatory approvals
* Glencore offer remains conditional only on approval from China, Korea, Taiwan and Australia
* Glencore believes that there is no legal basis to consider that such approvals will not be obtained
* All cash is payable in full immediately upon completion
* Rio Tinto (LON:RIO) must provide yancoal with opportunity to present a counter offer
* If offer successful, Glenore intends to mitigate its overall financial commitment via a sale / monetisation of assets of no less than US$1.5 billion
* Offer will automatically lapse if it is not declared by Rio Tinto to be a superior proposal by 6pm (BST) on 26 June 2017 Source text for Eikon: ID:nRSW0475Ja Further company coverage: GLEN.L
(Bangalore.newsroom@thomsonreuters.com)