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Riversdale Mulls $3.5B Rio Tinto Bid

Law360 (December 6, 2010, 5:11 PM EST) -- Closely held Australian mining company Riversdale Mining Ltd. is considering a $3.5 billion takeover offer from Rio Tinto Ltd., a move that would expand the mining giant's coking coal operations in the key market of Mozambique.

Riversdale Executive Chairman Michael O'Keeffe confirmed the possible takeover bid by Rio Tinto in a statement Monday following reports by the Australian and the Australian Financial Review, newspapers located in that country.

“The company has had discussions with Rio Tinto concerning a possible transaction at the corporate level for indicative...
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