Rio Tinto (RIO) and Mitsubishi raise their offer to acquire all of Coal & Allied to...

|About: Rio Tinto plc (RIO)|By:, SA News Editor

Rio Tinto (RIO) and Mitsubishi raise their offer to acquire all of Coal & Allied to ~$131/share, from $128, in a deal that values the Australian mining company at ~$11.6B. Rio Tinto and Mitsubishi currently own 75.7% and 10.2% of Coal & Allied respectively; after the deal closes, they would own 80% and 20%.