By finance reporter Adrian Thirsk
A formal takeover bid is now on the table for the mining house, Rio Tinto.
After a long phoney war, BHP Billiton's bid is now out in the open.
On the eve of a deadline set by the UK Takeovers Panel, it has detailed an offer for its smaller rival.
It wants Rio Tinto share holders to accept 3.4 BHP Billiton shares for each of their company's shares.
It says it would create the world's premier diversified natural resources company.
The bid is conditional on a minimum acceptance of 50 per cent.
Earlier this morning, BHP announced a 2.4 per cent drop in half year profit to $6.7 billion.
Share holders will receive an interim dividend of about 32 cents a share.
Dave R.
bhp makes formal bid for rio tinto
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Last
$42.75 |
Change
0.340(0.80%) |
Mkt cap ! $216.8B | |||
| Open | High | Low | Value | Volume |
| $42.69 | $42.83 | $42.50 | $240.2M | 5.628M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 237 | $42.69 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $42.75 | 28966 | 1 |
View Market Depth
| Last trade - 16.10pm 06/05/2024 (20 minute delay) ? |
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Last
$42.66 |
Change
0.340 ( 0.54 %) |
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| Open | High | Low | Volume | ||
| $42.68 | $42.83 | $42.50 | 1811916 | ||
| Last updated 15.59pm 06/05/2024 ? | |||||
| BHP (ASX) Chart |