Turquoise Hill delays shareholder vote on Rio Tinto deal to take it private

Turquoise Hill has delayed a shareholder meeting to vote on Rio Tinto's deal to take the company private.

The company's board has unanimously recommended that the company's minority shareholders vote in favour of the deal, however it has faced opposition.

Turquoise Hill says it has postponed the shareholder meeting, which was to take place Tuesday, until Nov. 8 after a request from Rio Tinto.

The company announced a deal in September that would see Rio Tinto, which already owns a 51 per cent stake in the company, acquire the rest of the miner for $43 per share in cash.