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Rinehart bids $591m for Riversdale

Luke Housego

Gina Rinehart's Hancock Corporation has moved to take full ownership of the nascent coal miner Riversdale Resources, offering $591 million for the remaining shares in the company.

Hancock offered to acquire all remaining shares in Riversdale in an all-cash offer at $2.50 a share, a 47 per cent increase on the $1.70 Hancock paid for 19.8 per cent of Riversdale shares in August and September last year.

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Luke Housego is a journalist for The Australian Financial Review based in the Brisbane office. Email Luke at luke.housego@afr.com.au

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    Original URL: https://www.afr.com/business/mining/coal/rinehart-bids-591m-for-riversdale-20190227-h1bspq