ASX announcement at 6.03 pm today. Wonder if Tom Albanese is wearing that insufferable smirk now? Game, set, match, to Kloppers. Good news for BHP punters - they don't have to shoulder the debt from Albanese's ego expansion.
"The BHP Billiton Board today decided that it no longer believes that completion of the offers for Rio Tinto would be in the best interests of BHP Billiton shareholders.
BHP Billiton Chairman, Don Argus, said today’s decision was first and foremost about BHP Billiton shareholder value and risks to that shareholder value.
“We have said that we would only seek to complete the transaction if it was in the best interests of BHP Billiton’s shareholders. While we have not changed our view of the basic industrial logic of the combination, or of the longer term prospects for natural resource demand growth driven by emerging economies, we have concerns about the continued deterioration of near term global economic conditions, the lack of any certainty as to the time it will take for conditions to improve and the risks that these issues imply for shareholder value.“
ASX announcement at 6.03 pm today. Wonder if Tom Albanese is...
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