Rio Tinto says happy with acceptances for Riversdale bid

SINGAPORE (Reuters) – Rio Tinto’s (RIO.AX: Quote, Profile, Research) energy chief executive Doug Ritchie, said on Tuesday the company is very pleased with the level of acceptances on its $4 billion bid for rival Riversdale Mining (RIV.AX: Quote, Profile, Research) and would not alter the fundamental terms of the offer.

“We have made an announcement to the market today that we are going to reach 44.3 percent, and we are very pleased with the way the acceptances are coming,” Ritchie told Reuters.

“We are not changing the fundamental terms of the offer.”

Rio Tinto said last week it would go ahead with its A$3.9 billion ($4 billion) takeover offer for Riversdale Mining even if it ended up with a minority stake in the Mozambique-focused coal miner.

The offer, announced in December, was originally conditional on at least 50 percent acceptances.

(Reporting by Harry Suhartono; Editing by Dhara Ranasinghe)

Rio Tinto says happy with acceptances for Riversdale bid