BHP Billiton's drawn-out $160 billion tilt at Rio Tinto hit another speed bump yesterday, after the all-important European competition body stopped the clock on their bid review.
The news came as commodity prices took their biggest tumble in five months, sending investors piling out of mining and energy stocks.
And it coincided with comments from Chinalco chairman Xiao Yaqing leaving open the possibility of the Chinese aluminium giant selling its 9 per cent stake in Rio under BHP's current offer.
The European Commission has put its review on hold while it awaits further information requested from BHP, meaning its final decision is likely to be pushed out from December 9 to some time around Christmas.
http://www.news.com.au/business/story/0,27753,24291692-14334,00.html
This might be one of the reasons??
why is it tanking, page-2
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Last
$115.70 |
Change
-0.510(0.44%) |
Mkt cap ! $42.94B | |||
| Open | High | Low | Value | Volume |
| $115.93 | $117.27 | $115.08 | $98.58M | 849.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1100 | $115.70 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $115.80 | 2712 | 1 |
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| Last trade - 16.10pm 19/11/2024 (20 minute delay) ? |
| RIO (ASX) Chart |