BHP Billiton abandons bid for Rio Tinto
November 25, 2008
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.
Australia approves Chinalco's stake...
Australia has approved Aluminum Corp. of China Ltd.'s stake in miner and takeover target Rio Tinto Ltd., Treasurer Wayne Swan said Sunday.
Chinalco May Snag More Of Rio Tinto
Before increasing its stake in the miner, the Chinese aluminum maker is waiting to test market conditions.
BHP Billiton's bid for Rio Tinto...
The European Union has begun a full investigation into BHP Billiton's proposed
$170billion ($£85.8billion)takeover of Rio Tinto, its rival.
Rio Tinto to cut 14,000 jobs to cope...
Rio Tinto Group will cut 14,000 jobs worldwide and reduce capital investment as part of new measures to reduce its debt amid waning demand for iron ore and other metals, the...
Rio Tinto kicks off savings drive...
Rio Tinto, the Anglo-Australian mining giant, said yesterday that it would cut 14,000 jobs in an attempt to reduce its $39 billion (£26.2 billion) debt mountain.
E.U. Opens Fire On BHP
Regulators lodge objections to bid for Rio Tinto on competition grounds.
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).
Europe May Balk At Mining Mega-Merger
A report surfaced that the European Union may object to BHP Billiton's proposed Rio Tinto takeover on antitrust grounds, sending both companies' shares plummeting in Sydney.
Rio Tinto forced to delay $10bn asset...
Shares in Rio Tinto fell by nearly 10 per cent this morning after the global
mining group said it would delay plans to sell $10 billion ($£5.74 billion)
of assets amid the...
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...
EU widens antitrust probe into BHP...
The European Commission on Friday widened its antitrust probe into the proposed acquisition of Rio Tinto Inc. by BHP Billiton Ltd., saying an initial investigation revealed...
US antitrust regulator clears BHP...
Global mining giant BHP Billiton said Thursday that U.S. antitrust regulators had granted partial approval for its US$170 billion hostile takeover bid for rival Rio Tinto.
Rio Tinto to invest 2.15 bln dlrs in...
AFP - Anglo-Australian mining giant Rio Tinto announced Wednesday that it will invest 2.15 billion US dollars in a major expansion of its iron ore mine in Corumba, Brazil.
BHP Billiton scraps $66 billion bid for Rio Tinto$
BHP Billiton this morning scrapped its $66 billion hostile bid for rival Rio Tinto, stating that it no longer believes the deal is in the best interests of its shareholders due to the financial crisis and falling commodity prices.$
BHP Billiton and Rio Tinto: the cost of throwing in the towel
It usually takes years for shareholders to discover how much value has been destroyed by an ill-conceived merger. For investors in BHP Billiton and Rio Tinto, the bills have arrived much more quickly.
Rio Tinto to invest $2.15 bln in...
AFP - Anglo-Australian mining giant Rio Tinto announced Wednesday that it will invest 2.15 billion US dollars in a major expansion of its iron ore mine in Corumba, Brazil.
BHP Billiton posts record...
AFP - The world's biggest mining company BHP Billiton Ltd. posted a record 15.39-billion-US-dollar annual net profit Monday and said it expected Asian demand to remain strong...
BHP Billiton posts record...
AFP - The world's biggest miner BHP Billiton on Monday announced record annual net profits of 15.39 billion US dollars (10.46 billion euros), driven by soaring commodity prices...
E.U. Stands In BHP's Way
The company's proposed Rio Tinto takeover is halted by the European Union over antitrust issues.
BHP Billiton poised for record profit
BHP Billiton is set to deliver a record annual profit in excess of $US15 billion ($A17.26 billion), underpinned by a strong result from its petroleum division.
To the brink of war
The inside story of Rio Tinto's iron ore battle with China. The final round of brinkmanship in the iron ore wars took place on the afternoon of June 23 at a Baosteel office in...