Turquoise Hill delays shareholder vote on Rio Tinto plan to take company private

Turquoise Hill Resources is delaying a shareholder vote on Rio Tinto's plan to take the company private.

The company says Rio Tinto asked for the postponement of the vote that was set to take place Wednesday at the request of the Quebec securities regulator. The shareholder meeting is now set for Nov. 15.

The delay comes as Rio Tinto is in talks with Turquoise Hill’s special committee of independent directors and the Autorité des marchés financiers with respect to dissent rights and procedures available to holders of minority shares.

Rio Tinto reached an agreement last week with a pair of shareholders that had opposed the company's plan to acquire the 49 per cent stake in Turquoise Hill that it does not already own for $43 per share.