Tata Steel evaluating Rio Tinto’s offer for Riversdale

By IANS
Friday, December 24, 2010

MUMBAI - Tata Steel Ltd Friday said it was evaluating Rio Tinto’s $3.91 billion takeover offer for Riversdale Mining.

“Tata Steel will evaluate the takeover bid in the context of other alternatives available to Tata Steel,” the company said in a regulatory filing.

The company owns 24 percent stake in Riversdale Mining.

The Tata Steel group with a turnover of $22.8 billion in financial year 2010 has over 80,000 employees across five continents.

At the Bombay Stock Exchange, the shares of the company rose 1.78 percent to trade at Rs.673.35.

Filed under: Economy

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