Iron-ore miner Hancock Prospecting has increased its cash offer for unlisted Canadian coal company Riversdale Resources from A$2.20 a share to A$2.70 a share.
Hancock, which currently holds a 40.43% stake in Riversdale, said this week that the increased offer was conditional upon the company achieving an interest of more than 85% in Riversdale on a fully diluted bases at the close of the offer on May 10.