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Riversdale Mining Ltd (ASX:RIV) has confirmed it has been in discussions with Rio Tinto Ltd (ASX:RIO) about a possible takeover.
The indicative price of $15 per Riversdale share values the company at around $3.5 billion.
Responding to media speculation Rio is planning to launch a takeover, Riversdale says it has undertaken confidential discussions with the global miner.
However, Rio has advised Riversdale it is not in a position to submit a proposal for the potential acquisition of the company.
Following the news shares in Riversdale advanced over 11 per cent in early trade and are currently $15.59.
Riversdale Mining reported a profit of $1.34 million in the year to 30 June 2010.
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Last
$117.18 |
Change
0.080(0.07%) |
Mkt cap ! $42.17B | |||
| Open | High | Low | Value | Volume |
| $116.77 | $117.70 | $116.46 | $85.14M | 726.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 394 | $117.17 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $117.19 | 1831 | 1 |
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| Last trade - 16.10pm 27/11/2024 (20 minute delay) ? |
| RIO (ASX) Chart |
