Wed Apr 6, 2011 8:54am GMT
MELBOURNE, April 7 (Reuters) - Global miner Rio Tinto beat its target to secure a 47 percent stake in Riversdale Mining with its A$3.9 billion ($4 billion) takeover offer, and will pay its sweetened offer.
The offer of A$16.50 a share depended on it getting to at least a 47 percent holding in Riversdale by late on April 6. Otherwise it was set to pay A$16 a share.
Riversdale's two other key shareholders, India's Tata Steel and Brazil's CSN , have held on to their combined 47 percent stake. ($1 = 0.965 Australian Dollars) (Reporting by Sonali Paul and Ed Davies, sourced Thomson Reuters)
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