MELBOURNE, Australia ( TheStreet) -- Rio Tinto (RIO) and Japan's Mitsubishi offered Monday to buy the shares they don't already own in Coal & Allied Industries, Australia's sixth-largest coal miner, for 122 Australian dollars ($126.50) a share.
The offer values Coal & Allied at about A$10.6 billion ($11 billion).
Rio Tinto is Coal & Allied's largest shareholder. It currently holds 75.71% of Coal & Allied shares. Mitsubishi holds 10.2%.
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