Rio Tinto makes $3.9 billion bid for Riversdale

SYDNEY (BestGrowthStock) – Global miner Rio Tinto (RIO.AX: ) has agreed to buy Australian-listed coal miner Riversdale (RIV.AX: ) for A$16 a share, in a deal which values the target at around $3.9 billion, the two companies said on Thursday.

Shares in Riversdale, which said earlier this month it was talking to Rio about a A$15 per share offer, were placed in a trading halt on Tuesday ahead of announcement on the Rio bid.

(Reporting by Michael Smith; editing by Balazs Koranyi)

Rio Tinto makes $3.9 billion bid for Riversdale