Monsters of Rock: Bid to shut down Rio’s uranium ‘pre-crime’ stumbles

Pic: Getty Images Takeovers Panel knocks back Minority Report play vs Rio Tinto’s play vs ERA

Zentree Investments demands undertakings to prevent Rio’s full control of rehab company, notably the sale of its controversial Jabiluka deposit in the NT

Materials sector crawls to narrowest of losses

The minority investor urging the Takeovers Panel to stop Rio Tinto (ASX:RIO) mopping up the minority shareholders in dead parrot uranium play Energy Resources of Australia (ASX:ERA) has been rebuffed after asking the body to stop a capital raising that hasn’t yet been announced.In a gambit which echoes Stephen Spielberg’s Tom Cruise-led 2002 thriller Minority Report – a Philip K. Dick inspired adaptation about a futuristic police department which predicts crime before it happens – prominent minority Zentree Investments had asked the panel to step in to stop Rio Tinto picking up a 90% stake via a capital raising.Though the […]

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