rio bids for riversdale @ $16.50, page-9

dont like this comment in the statement:

The offer, expected to be endorsed by Riversdale, is slightly below the $16.30 at which Riversdale shares were selling before they entered a trading halt.

But the deal is likely to be presented as a premium to the $14.10 at which Riversdale was trading on December 3, the trading day before the company revealed the earlier $15-a-share offer from Rio.



i honeslty cant see why RIV directors would say yes to 16.50?