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Friday, March 18, 2011

Rio Tinto ups holding in $3.9 billion takeover target Riversdale

Thu Mar 17, 2011 11:19pm GMT

SYDNEY, March 18 (Reuters) - Rio Tinto has received acceptances for 33.04 percent of shares in its $3.9 billion takeover target Riversdale , the global miner said on Friday, after raising its offer for the Mozambique-focused coal miner last week.

The offer is conditional on Rio Tinto reaching 50.1 percent control by March 23.
(Created by Ed Davies, Reuters)

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