Rio Tinto offers US$3.9-billion for coal miner Riversdale

The Financial Post.com reports that Rio Tinto (NYSE:RIO) has offered to buy coal miner Riversdale  (PINK:RFLMF) for $3.9 B.

The story is quoted as saying:

Rio’s first big acquisition since its ill-timed Alcan buy in 2007 is a play on soaring Asian demand for the key steel-making ingredient, but needs the backing of at least one of Riversdale’s three large shareholders, including India’s Tata Steel and Brazilian steel group CSN.

 To access the full story, click here.