LONDON (AP) -- Anglo-Australian mining company Rio Tinto PLC has extended the deadline for acceptances of its $4 billion takeover offer for Riversdale Mining Ltd for the third time.
Rio said Friday that it now holds 73.39 percent of Riversdale shares as it extended the offer deadline by two weeks to June 3.
Rio received a boost to its bid for the Australian-based coal producer last month when Brazil's CSN reversed its previous objections and accepted the offer.
But India's Tata Steel, the other major stakeholder in Riversdale with around 26 percent of shares, continues to rebuff the offer.
Rio is keen to capitalize on Riversdale's sizable business in Africa, which includes a major project in Mozambique and the Zululand Anthracite operation in South Africa.
Rio said Friday that it now holds 73.39 percent of Riversdale shares as it extended the offer deadline by two weeks to June 3.
Rio received a boost to its bid for the Australian-based coal producer last month when Brazil's CSN reversed its previous objections and accepted the offer.
But India's Tata Steel, the other major stakeholder in Riversdale with around 26 percent of shares, continues to rebuff the offer.
Rio is keen to capitalize on Riversdale's sizable business in Africa, which includes a major project in Mozambique and the Zululand Anthracite operation in South Africa.
