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News of the deal looks like it's getting the press coverage that this Co has never seen before.


http://topnews.us/content/27750-bhp-billiton-bids-a204mn-united-minerals

BHP Billiton bids A$204mn for United Minerals

World's leading mining company, BHP Billiton, has offered $204 million to acquire the West Australian miner United Minerals Corporation, in a move that could thwart China's plans to acquire a stake in the iron ore explorer.

Perth-based BHP informed that it was offering A$1.30 per share in a bid to acquire the iron ore explorer.

United Minerals Corporation said that the offer represents a premium of 43 per cent to the last trade in its shares.

Platypus Asset Management's Prasad Patkar said, "It's a strategic acquisition to improve the logistics around their own production process."

The bid is conditional on United Minerals Corporation's ditching a planned deal with China Railway Materials Commercial Corporation that would have seen the Chinese group pay A$1.35 per share to acquire 11.4 per cent stake in the company.

Shares in United Minerals gained 40 per cent to close at A$1.27 in Sydney, shares in BHP jumped 0.8 per cent to close at A$39.20.