Companies
BHP bid for Rio gets partial US approval
By Henry Tyler
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Posted 03 July 2008 @ 10:43 am GMT
BHP Billiton said on Thursday that its unsolicited bid for fellow miner Rio Tinto has been cleared by US antitrust authorities. The miner said that the clearance meant it had satisfied a part of US antitrust law requirements.
Analysts say BHP may have to sweeten Rio againThe US authorities have the right to re-open their investigation should new information come to light, although such a move is unlikely.
Both BHP Billiton and Rio Tinto are global mining companies and so BHP Billiton's $170 billion offer (£85 billion) has come under scrutiny by both national and regional authorities.
The European Commission is also conducting an inquiry into the proposed takeover.
This article is copyrighted by the International Business Times.
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