Investors furious as BHP pulls plug on costly pursuit of rival Rio Tinto
November 26, 2008
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).
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.
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.
Rio Tinto upbeat on commodities as...
Rio Tinto, the world's second largest miner, today revealed a 51.8 per cent
rise in profit for the first six months of the year due to soaring commodity
prices as it...
BHP Billiton and Rio Tinto: the cost...
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...
BHP Billiton scraps $66 billion bid...
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...
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...
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.
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.
E.U. Opens Fire On BHP
Regulators lodge objections to bid for Rio Tinto on competition grounds.
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 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.
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.
Rio Tinto expects post-Olympic...
China's economy should recover its growth trajectory after two weeks of
self-imposed slowdown during the Olympics, Rio Tinto said yesterday.
Rio Tinto to cut 14,000 jobs to cope with slump
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 mining company said Wednesday.
Rio Tinto axes 14,000 jobs to reduce debt pile
Rio Tinto, the Anglo-Australian mining giant, today announced that it will cut 14,000 jobs in an attempt to reduce its $39 billion ($26.2 billion) debt mountain.$ 
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...
Rio Tinto undermined by takeover...
Mounting fears that Rio Tinto would be forced into an equity issue to pay off
debt due next year made it London’s worst blue-chip performer.
Rio Tinto cuts iron ore production
Rio Tinto will reduce production of iron ore at its Western Australia mines by 10 percent due to weakening demand from China, the company said.
E.U. Stands In BHP's Way
The company's proposed Rio Tinto takeover is halted by the European Union over antitrust issues.
Rio Tinto higher despite fear of...
The pressure on Rio Tinto to scrap big mining projects increased yesterday as
Moody’s, the ratings agency, gave warning that the group’s income next year
would be squeezed...
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.