News of the deal looks like it's getting the press coverage that...

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.