Koma To

At the moment, shares of Canadian Turquoise Hill Resources rose 25.7% to $29.32. As of 19:45 Moscow time, the paper rolled back to $29.06. This is evidenced by the trading data of the NYSE stock exchange.

Shares rose on news that mining and metals company Rio Tinto has upgraded its offer to acquire a 49% stake in Turquoise Hill Resources for $400 million to $3.1 billion in cash. Reuters writes that as part of the new offer, minority shareholders of Turquoise Hill Resources will receive 40 Canadian dollars ($31) per share.

The deal also includes the Exxon Silvertip pipeline, Exxon Mobil's stake in the Yellowstone pipeline, and Wyoming-based Yellowstone Energy LP, Exxon said.

The price of the deal, which is expected to close in the second quarter, could increase after the valuation of hydrocarbons and other reserves, Par Pacific said.

Exxon's refinery, located in Billings, Montana, is capable of processing 63,000 barrels of crude oil per day and processes low-cost crudes from Western Canada and the Rocky Mountain region, Par Pacific reported.

“This acquisition expands our fully integrated downstream network in the Western United States,” said Par Pacific chief executive William Pate.

Par Pacific expects to finance the acquisition with cash and resources from existing credit lines.