Posted by: youngragingbull | June 3, 2013

Blackstone, Glencore bid for Rio Tinto Canadian unit

Private-equity firm Blackstone Group LP and Glencore Xstrata PLC are among bidders considering buying Rio Tinto PLC’s Canadian iron-ore operations, according to a report by Dow Jones Newswires.

There are other potential bidders for the 59% stake in the Iron Ore Co. of Canada, which analysts have valued at around $4 billion, according to the report, which quotes people familiar with the matter.

A first round of bids has been submitted and are being considered.

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