Shareholders in Turquoise Hill Resources Ltd. are set to vote Dec. 9 on a bid by mining giant Rio Tinto to acquire the Montreal-based company.

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Turquoise Hill shared details Thursday about the December meeting to vote on Rio Tinto’s offer of $43 per share for the 49 per cent stake it does not already own.

The development follows a series of twists in the takeover bid that most recently saw Rio Tinto call off a signed agreement with a pair of shareholders that were opposed to the Turquoise Hill sale.

That agreement with Pentwater Capital Management LP and SailingStone Capital Partners LLC would have seen the two shareholders withhold their votes on the sale and exercise their dissent rights under an arrangement that included mediation and the possibility of binding arbitration.

A previously scheduled vote on the deal was then delayed after Turquoise Hill’s special committee of independent directors raised concerns about different treatment for minority shareholders.

Turquoise Hill owns a majority stake in the Oyu Tolgoi gold and copper mine in Mongolia, one of the largest copper mines in the world. 

Mongolian state-owned entity Erdenes Oyu Tolgoi LLC owns a 34 per cent stake of the mine, while Turquoise Hill holds 66 per cent interest.

Some shareholders have argued that the sale to Rio Tinto undervalues the mine’s assets.

- With files from The Canadian Press and Bloomberg News