Although BHPB’s takeover offer has unnerved almost all major global steel makers who buy hundreds of millions of tonnes of iron ore from both companies and raised eyebrows of regulators in dozens of countries fearing an anti competitive nightmare, in addition to snub by Rio that the idea “Out of the ballpark” and “Dead in the water”, BHPB is likely to continue its quest for from what would currently be the second biggest corporate takeover in the world.

Mr Marius Kloppers CEO of BHP has made it clear he wants to make the world's biggest mining house even bigger in time to catch the booming trade in world commodities markets. Mr Kloppers has left many investors wondering if he might pepper the offer with a cash sweetener.

Analysts polled by Reuters in November expected BHP may boost its offer by a fifth.

Reuters reported that Mr Kloppers has put together a team which code named the Rio plan “De Bello”, a reference to Caesar's hard fought victory over heroic Gallic leader Vercingetorix in 52 BC. Mr Kloppers, Like Caesar, who eventually had Vercingetorix strangled is undeterred.

Mega mergers are not new to Mr Kloppers, a management consultant who joined Billiton in 1993. In addition to mentioning a love of Bob Dylan songs, his biography also says he took a key role in BHP’s 2001 merger with Billiton, once part of Royal Dutch Shell.

British regulators have given BHPB a February 6th 2008 deadline to make a formal bid or walk away.