London-based hedge fund Palliser Capital on Monday published a letter to the chair of Rio Tinto RIO sharing the results of an appraisal report that concluded “advantages of unification outweigh the disadvantages” for the company and limited shareholders.
The global miner’s British shareholders are set to vote at its annual general meeting in London on April 3 on a resolution from Palliser that seeks a review of the company’s dual-listed structure, which the fund said was inefficient and “value destructive”.
source: reuters.com