Rio Tinto fails to reach majority stake in Riversdale

MELBOURNE (Reuters) – Global miner Rio Tinto (RIO.AX: Quote, Profile, Research) failed to win a majority stake in Riversdale Mining with its A$3.9 billion ($4 billion) sweetened offer, it said on Tuesday.

Rio Tinto reached 41.04 percent by its late Monday deadline.

The offer was due to revert to A$16 a share from A$16.50, remaining open until April 6, if Rio did not reach 50 percent by 0800 GMT on Monday. ($1 = 0.976 Australian Dollars)

(Reporting by Sonali Paul; Editing by Mark Bendeich)

Rio Tinto fails to reach majority stake in Riversdale