MELBOURNE, March 28 (Reuters) - Global miner Rio Tinto remains short of its target of holding more than 50 percent of shares in Riversdale Mining , ahead of a Monday evening deadline on its A$3.9 billion takeover offer for the Mozambique-focused coal miner.
It had reached just under 40 percent as of Monday morning, Rio Tinto said, with still no word on whether Riversdale's two biggest shareholders, India's Tata Steel and Brazil's CSN , would sell any of their shares.
Riversdale's shareholders will receive A$16.50 a share if Rio reaches more than 50 percent acceptances by 0800 GMT on Monday. Otherwise the offer reverts to A$16 a share, remaining open until April 6.
It had reached just under 40 percent as of Monday morning, Rio Tinto said, with still no word on whether Riversdale's two biggest shareholders, India's Tata Steel and Brazil's CSN , would sell any of their shares.
Riversdale's shareholders will receive A$16.50 a share if Rio reaches more than 50 percent acceptances by 0800 GMT on Monday. Otherwise the offer reverts to A$16 a share, remaining open until April 6.
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