Rio Tinto secures more support for $3.9 bn Riversdale bid

Global miner Rio Tinto has received acceptances for 30.6% of shares in its USD 3.9 billion takeover target Riversdale, it said on Wednesday, after increasing its offer for the Mozambique-focused coal miner last week.

March 16, 2011 / 16:17 IST

Global miner Rio Tinto has received acceptances for 30.6% of shares in its USD 3.9 billion takeover target Riversdale, it said on Wednesday, after increasing its offer for the Mozambique-focused coal miner last week.

The offer is conditioned on Rio Tinto reaching 50.1% control by March 23.

first published: Mar 16, 2011 08:10 am

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347