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.
Continue Reading Below
-Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
June 20, 2017 16:13 ET (20:13 GMT)