SYDNEY, June 20 (Reuters) - Rio Tinto RIO.L RIO.AX on Tuesday reconfirmed its earlier recommendation of Yancoal Australia YAL.AX as the preferred buyer of its Coal & Allied division.
"The Rio Tinto board has reconfirmed its recommendation that shareholders vote in favour of the sale of its wholly-owned subsidiary Coal & Allied Industries Ltd to Yancoal Australia Ltd ," Rio Tinto said.
The recommendation follows consideration by the board of a counter proposal from commodities group Glencore GLEN.L and a proposal from Yancoal comprising improved terms to its previously announced transaction, according to Rio Tinto.