Tata Steel evaluating Rio Tinto’s offer for Riversdale

December 24th, 2010 - 8:15 pm ICT by IANS  

Mumbai, 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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