CSN raises stake in Riversdale to strengthen position pre-takeover

first_img Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm whatsapp CSN raises stake in Riversdale to strengthen position pre-takeover Share Tags: NULLcenter_img CSN, Brazil’s largest diversified steelmaking group, has raised its stake in Australian miner Riversdale, which is subject to a $3.9bn takeover bid from global miner Rio Tinto.CSN increased its stake to 17.58 per cent from 16.29 per cent, according to a substantial shareholder notice filed with the Australian exchange.The Brazilian group trails Riversdale’s biggest shareholder Tata Steel, which owns 24.2 per cent.Investors and sources close to the deal said CSN was likely trying to catch up with Tata and strengthen its bargaining power as it negotiates with Rio Tinto over coking coal supplies.Neither CSN nor Tata were expected to lodge rival bids but have been talking to Rio Tinto since it made the offer, They are yet to commit publicly to the offer which closes on 18 February. KCS-content More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.com Wednesday 9 February 2011 7:27 pm whatsapplast_img read more