Materials Down Slightly Amid Deal Maneuvers -- Materials Roundup

Features Dow Jones Newswires

Shares of miners and other commodities producers fell, but not by much, amid deal activity. Anglo Australian miner Rio Tinto rebuffed a $2.5 billion offer by rival Glencore for its Australian coal assets and recommended that shareholders approve a previous bid by a Chinese company. Rio Tinto said its board decided to stick with a slightly lower $2.45 billion offer that Yancoal Australia made in January, in part because it expects to complete the deal faster than one with Glencore. Brazilian meat-packing giant JBS will sell $1.8 billion in assets, including its U.S. cattle feedlots in the wake of a settlement with Brazilian authorities.

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-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

June 20, 2017 16:13 ET (20:13 GMT)