Global miner Rio Tinto Ltd inched closer to gaining control of coal producer Riversdale Mining Ltd after a $US3.9 billion ($A3.84 billion) sweetened bid rallied more shareholders to accept the offer but Riversdale's top shareholders Tata Steel and CSN still hold the key.
Rio, which has set a deadline of April 1 to gain majority control of Riversdale, said it had gained acceptances from 26.13 per cent of shareholders as of March 11, up from 17.86 per cent earlier.
Rio raised its bid by three per cent to $16.50 a share last week and extended the offer period for a third time but said the new offer was final if no rival bids emerged.
Despite rising support for the bid, India's Tata Steel , the world's seventh largest steel maker and Brazil steel maker CSN, remain the key obstacles.
The two firms have increased their stakes in Riversdale since the bid and now hold a combined 47 per cent.
Without their support, Rio needs the support of nearly all minority shareholders of the Africa-focused miner.
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