Rio Tinto To Buy Australia's Riversdale For $4B

Law360, New York (December 23, 2010, 4:26 PM EST) -- Rio Tinto Ltd. agreed Thursday to take over Australia's Riversdale Mining Ltd., which operates mines in South Africa, Mozambique and other African countries, for about AU$3.9 billion ($3.9 billion).

The AU$16 per share purchase price represents a 13 percent premium on Riversdale's Dec. 3 stock price and a more than 6 percent increase on a proposed Rio Tinto offer that Riversdale disclosed earlier in December.

The two companies entered in a bid implementation agreement for Rio Tinto to acquire all of Riversdale's outstanding shares through a...
To view the full article, register now.