The total cash amount of A$123.20 per share represents a 35.4% premium to Coal & Allied’s closing price of A$91 on August 5, 2011. The discussions remain subject to a number of matters including regulatory approvals and Rio Tinto and Mitsubishi Development entering into joint bid and other arrangements in relation to the proposal on agreed terms. Rio Tinto is Coal & Allied’s largest shareholder (75.71%), while Mitsubishi Development currently holds 10.20%.
