An Indian state consortium has decided not to counter Rio Tinto's $3.9 billion bid for Australian miner Riversdale (RIV.AX), likely ending the possibility of a bidding war for the Africa-focused coal firm. Anglo-Australian miner Rio Tinto's (RIO.AX) (RIO.L) offer to buy Riversdale gathered steam this week after Riversdale's board unanimously recommended the bid.[ID:nL3E7CO04Y] The Indian consortium, which had earlier said it would consider a bid and had hired Citigroup C.N to do due diligence on the firm, on Thursday said it decided against an offer.
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