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

Published 23/06/2017, 11:40 pm
© Reuters.  Glencore increases offer to buy Rio's stake in Coal & Allied
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June 23 (Reuters) - Miner and trader Glencore Plc GLEN.L said on Friday it had submitted an improved proposal to buy Australian miner Rio Tinto's RIO.AX , RIO.L stake in Coal & Allied Industries Ltd for $2.675 billion in cash plus a coal price-linked royalty. improved offer from Glencore comes three days after Rio Tinto selected Yancoal YAL.AX on Tuesday to buy its Coal & Allied division in Australia for $2.45 billion.

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