BHP Billiton abandons bid for Rio Tinto

BHP Billiton Ltd., the world's biggest mining company, abandoned a hostile $68 billion takeover bid for rival Rio Tinto Ltd., blaming the global economic downturn and plunging commodity prices.

Rio Tinto says it is comfortable with debt level

Mining giant Rio Tinto on Wednesday sought to allay concerns about its debt levels a day after bigger rival BHP Billiton abandoned a takeover bid for that reason, sending Rio's share price plummeting.

Japan gives 11-day ultimatum to BHP over hostile Rio Tinto takeover

The Japanese Government has ordered BHP Billiton, the world's largest miner, to provide details of its proposed $78 billion ($£48.3 billion) takeover of Rio Tinto within 11 days or face possible criminal prosecution.

EU threat to Rio Tinto takeover

EUROPEAN regulators are this week expected to threaten to stop the proposed takeover of Rio Tinto by BHP Billiton because of the dominance the pair have over the world’s supply of iron ore.

Investors furious as BHP pulls plug on costly pursuit of rival Rio Tinto

BHP Billiton’s hostile pursuit of Rio Tinto, its mining rival, ended yesterday, bringing to a halt an extraordinary bonanza for advisers who have reaped more than £400 million in fees and other payments from the failed bid effort (see Commentary, facing page).

Rio Tinto posts record half-year profit

Rio Tinto Ltd., the world's third-largest mining company, said Tuesday that half-year profit more than doubled to a record on strong demand from China for iron ore and other metals.