bhp - rio joint venture, page-6

ACCC delay on BHP-Rio Pilbara merger a surprise

Matt Chambers From: The Australian March 09, 2010 12:00AM

THE Australian Competition and Consumer Commission has set itself an April 28 deadline for ruling on the $US116 billion ($127bn) West Australian iron ore merger between BHP Billiton and Rio Tinto, a delay of two months on its target.

Last month, the ACCC said it had delayed its findings on the merger and had requested more information from BHP and Rio.

The request came after the commission received submissions from iron ore buyers and other suppliers. Yesterday, an ACCC spokeswoman would not comment further on the investigation or what information had been required from the two mining giants.

When calling for submissions, the ACCC said it was interested in how the global financial crisis had affected the iron ore market.

Because it approved BHP's failed $135bn takeover of Rio in 2008, the ACCC had been expected to tick the iron ore merger fairly quickly.

http://www.theaustralian.com.au/business/accc-delay-on-bhp-rio-pilbara-merger-a-surprise/story-e6frg8zx-1225838426352