Rio Tinto’s activist investors Palliser Capital and James Smith shows it pays to be a pest

It’s been six months since activist hedge fund Palliser Capital retreated to London, licking its wounds after its campaign for Rio Tinto’s dual-listing unification failed at the Perth Convention Centre.

It wanted Rio’s board, led by Dominic Barton, to review (and ultimately collapse) its dual-company structure. But its resolution to force this fell just short of the 20 per cent shareholder sign-off it needed.

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