Steelmaker reacts to Rio's takeover attempt

RIO Tinto’s $A3.9 billion cash offer for Riversdale Mining could face more hurdles after Brazilian steelmaker Cia Siderurgica Nacional spent more than $76 million to increase its stake in the African coking coal producer to 17.58%.

Steelmaker reacts to Rio's takeover attempt Steelmaker reacts to Rio's takeover attempt Steelmaker reacts to Rio's takeover attempt Steelmaker reacts to Rio's takeover attempt Steelmaker reacts to Rio's takeover attempt

CSN and its associated companies bought almost 4.6 million Riversdale shares from February 1 to 8.

Riversdale’s regulatory announcement revealed the purchases were made at prices ranging from $15.

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