Rio Tinto bids for Riversdale
EXCLUSIVE Brett Clegg From: The Australian December 21, 2010 10:17AM
RIO Tinto has formalised a bid for Riversdale Mining at what is believed to be pitched at $16.50 a share.
Shares in the Mozambique coal miner were placed in a trading halt this morning as the two parties thrashed out non-monetary terms, including pre-bid agreements that would prohibit Riversdale from soliciting rival bids.
On December 6, Riversdale said it was in discussions with miner Rio Tinto about selling the company for $15 per share.
Riversdale shares last traded at $16.30, but were trading at $14.10 before the statement.
Riversdale is developing as a divesified mining financier, with its major operation the Zululand anthracite colliery in South Africa.
- Forums
- ASX - By Stock
- RIV
- rio bids for riversdale @ $16.50
rio bids for riversdale @ $16.50
-
- There are more pages in this discussion • 20 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add RIV (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
SPONSORED BY The Market Online