Wed Apr 6, 2011 9:14am GMT
LONDON, April 6 (Reuters) - Global miner Rio Tinto (RIO.AX: Quote) (RIO.L: Quote) holds over 49 percent of Riversdale Mining (RIV.AX: Quote), beating its target 47 percent holding ahead of a deadline on its A$3.9 billion ($4 billion) takeover offer.
The offer of A$16.50 a share depended on Rio getting to at least a 47 percent stake in Riversdale by late on April 6, otherwise it would have paid A$16 a share.
Rio said in a statement on Wednesday that it now holds 49.49 percent of Riversdale. Earlier in the day, it announced a 46.78 percent holding.
The offer price increase has also triggered an extension of the offer period until April 20. Rio Tinto said last week it would go ahead with its takeover offer for Riversdale even if it ended up with a minority stake in the Mozambique-focused coal miner.
The offer, announced in December, was originally conditional on at least 50 percent acceptances.
(Reporting by Clara Ferreira-Marques; Editing by Julie Crust, reuters)
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