Printer Friendly

pounds 7bn dawn raid on giant Rio Tinto; MINING.

The battle for control of Rio Tinto took a twist yesterday after it emerged that Chinese group Chinalco and US firm Alcoa had snapped up a 12 per cent stake in the mining giant.

The pounds 7 billion dawn raid, thought to be one of the biggest in UK corporate history, comes just days before rival BHP Billiton faces a deadline to launch a formal takeover bid for the Anglo-Australian miner.

However, the stake-building has cast doubt over a potential deal, with the pounds 60-a-share paid by Chinalco and Alcoa well above BHP's proposed offer.
COPYRIGHT 2008 Birmingham Post & Mail Ltd
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2008 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:The Birmingham Post (England)
Date:Feb 2, 2008
Words:95
Previous Article:Insolvencies could soar this year; INSOLVENCY.
Next Article:Split trousers and old trains.
Topics:


Related Articles
SHARE PRICES: Market fills its boots over miners' merger; MARKET REPORT.
Dramatic twist in Rio battle; In association with RBS.
Chinese and Americans buy into mining giant; In association with BUSINES VENTURE.
Rio bidding war; In association with RBS.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters