from msn.com
Rio Tinto could make bid of its own
British mining giant Rio Tinto (RTP, news, msgs) could turn the tables on Australian rival BHP Billiton (BHP, news, msgs).
Rio Tinto, which rebuffed an unsolicited $131.5 billion all-stock bid from BHP earlier this month, is considering a counteroffer, The Wall Street Journal is reporting. Rio Tinto's "Pac-Man" defense is an effort to prevent BHP from buying the company; but the tactic requires Rio Tinto shareholders to pay a premium to BHP shareholders instead of receiving one from BHP, the paper explained.
Rio Tinto had said BHP's bid was too low.
Meanwhile, BHP CEO Marius Kloppers has asked Rio Tinto shareholders to put pressure on the company's management to discuss BHP's offer, Bloomberg News reported.
Shares of Rio Tinto jumped $7.88, or 1.8%, to $448.84 this morning; BHP shares dipped 23 cents to $73.87.
rio tinto could make bid of its own to bhp
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add RIO (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$119.00 |
Change
-2.540(2.09%) |
Mkt cap ! $44.17B | |||
| Open | High | Low | Value | Volume |
| $120.56 | $120.69 | $119.00 | $216.2M | 1.800M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 130 | $118.99 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $119.13 | 1255 | 1 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| RIO (ASX) Chart |