India’s ICVL May Counter Rio Tinto’s $3.9 Billion Riversdale Mining Offer

Bloomberg.com reports that International Coal Ventures may be considering a bid for Riversdale Mining (ASX:RIV)- in competition with a recently placed bid from Rio Tinto. (NYSE:RIO)

The story is quoted as saying:

ICVL appointed Citigroup Inc. to examine a possible takeover offer for the Sydney-based coal company with mines in Mozambique, the venture’s chairman C.S. Verma said yesterday. London-based Rio yesterday bid A$16 a share for Riversdale, securing 14.9 percent of the company in pre-bid agreements

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