Tata Steel evaluating Rio Tinto’s offer for Riversdale
By IANSFriday, 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.
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