Shares of Rio Tinto Group (ASX:RIO) fell past 2% in recent Tuesday trade after Reuters reported Monday that the company's shareholder and activist fund Palliser Capital demanded that the company make a counterbid for Canadian resource firm Teck Resources.
In an Oct. 17 letter to the company's board, Palliser also urged the miner to unify its London and Sydney listings and split its base metals business.
The company and Palliser did not immediately respond to MT Newswires' request for comment.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.