Rio Tinto secures 49.49 pct stake in $4 bln bid for Riversdale

MELBOURNE, April 7 (Reuters) – Global miner Rio Tinto
beat its target to secure a 47 percent
stake in Riversdale Mining with its A$3.9 billion ($4
billion) takeover offer, and will pay its sweetened offer.

The offer of A$16.50 a share depended on it getting to at
least a 47 percent holding in Riversdale by late on April 6.
Otherwise it was set to pay A$16 a share.

Riversdale’s two other key shareholders, India’s Tata Steel
and Brazil’s CSN , have held on to their
combined 47 percent stake.
($1 = 0.965 Australian Dollars)

(Reporting by Sonali Paul and Ed Davies)

Rio Tinto secures 49.49 pct stake in $4 bln bid for Riversdale