We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

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

Law360 (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.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.