International Business Times reported  Rio Tinto Ltd. (NYSE:RIO) has succeeded in its $654-million takeover bid for Hathor Exploration (TSX:HAT).

As quoted in the market news:

Rio Tinto Ltd. said it will prolong its offer by 10 days up until 12 December to acquire all the remaining outstanding shares of Hathor Exploration for $C4.70 ($A4.51) cash. So far, some 94,950,089 Hathor Exploration common shares representing 70.21 per cent of the shares have been tendered.

Click here to read the full International Business Times report.