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.