BHP Billiton today welcomed the decision by the Australian Competition and Consumer Commission that it does not object to BHP Billiton's proposed acquisition of Rio Tinto.

Mr Alberto Calderon CCO of BHP Billiton said that "We are very pleased to have received notice that the ACCC will not object to our proposed acquisition of Rio Tinto.”

He added that "We have long believed in the benefits of the combination of BHP Billiton and Rio Tinto. Our strategic rationale has always been based on the combined company having an incentive to produce more product more quickly to deliver to customers."

Confirmation that the ACCC does not object satisfies the Australian merger control pre condition of BHP Billiton's proposed offer for Rio Tinto.

In July, the US Department of Justice also announced it would not oppose the transaction.