Tata Steel evaluating Rio Tinto’s offer for Riversdale
December 24th, 2010 - 8:15 pm ICT by IANSMumbai, Dec 24 (IANS) 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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Tags: bombay stock exchange, dec 24, five continents, mumbai, percent stake, rio tinto, riversdale, steel group, steel ltd, takeover bid, tata steel, turnover