Yanzhou Coal Mining Company
Rio prefers Yancoal to Glencore in Australia coal sale
Rio Tinto on June 26 recommended shareholders accept a new improved offer from Yancoal for its Australian coal assets, after the China-backed firm trumped a fresh bid from Swiss commodities giant Glencore.
Rio, the world's second-largest miner, said in January it was selling Coal & Allied to Yancoal Australia -- majority-controlled by China's Yanzhou Coal -- for $2.45 billion.