Mar 20, 2011 11:05pm GMT
MELBOURNE, March 21 (Reuters) - Global miner Rio Tinto has extended its sweetened $3.9 billion bid for Mozambique-focused coal miner Riversdale Mining by three days.
Riversdale shareholders will receive A$16.50 a share if Rio Tinto gets more than 50 percent acceptances by March 28, Rio Tinto said on Monday.
As of Monday morning, Rio Tinto had received acceptances on 34.94 percent of Riversdale shares.
The offer will revert to A$16 a share if it does not reach the 50 percent mark by then, and will remain open for three extra days until April 6. (Reuters)
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