BHP Billiton (BHP), the world’s largest miner, offered to buy metals company Rio Tinto (RTP)
Quoted at MarketWatch BHP said: "BHP Billiton now confirms that it recently wrote to the board of Rio Tinto outlining a proposal in relation to a potential combination with Rio Tinto on terms incorporating a premium, reflecting its confidence in the benefits for both sets of shareholders of such a transaction. In preparing its proposal, BHP Billiton has examined in detail the regulatory issues and other practicalities of a combination."
Rio Tinto says it rejected the idea.
Douglas A. McIntyre
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