By Melissa Pistilli-Exclusive to Iron Investing News BHP Billiton’s hostile takeover bid for rival Rio Tinto finally came to an end last week. On November 25, BHP announced it was dropping its $66 billion bid for Rio due to the current global economic crisis and Rio’s $42.1 billion in debt. The takeover process had begun [...]
Continue reading "BHP’s takeover of Rio dies"
Thursday, September 4, 2008
By Melissa Pistilli – Exclusive to Iron Investing News BHP Billiton is experiencing yet another setback in its attempt to acquire Rio Tinto Group in a hostile takeover bid. On August 13, the European Commission asked BHP for more information in its efforts to determine whether or not to approve the transaction. The Commission has since [...]
Continue reading "BHP encounters another hurdle"
Friday, August 8, 2008
BHP Billiton’s ongoing hostile takeover bid of of Rio Tinto may be over by the year-end. Four months ago, the $142 billion takeover was considered by most to be a sure bet. But now, all signs are pointing towards the bid running out of steam as the Chinese Ministry of Commerce and the European Commission seem [...]
Continue reading "Rio May Elude BHP’s Grasp"
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Tuesday, December 2, 2008