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BHPB bid for Rio - Japanese FTC to ask for more information
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Thursday, 04 Sep 2008
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Kyodo News reported that Japan’s antimonopoly watchdog will soon order mining giant BHP Billiton Ltd to submit information on its bid to acquire rival Rio Tinto.

According to the Fair Trade Commission, it will be the first time that Japan has called for the submission of a plan regarding a takeover bid between foreign entities based on the antitrust law.

FTC said it will use the information provided by BHP Billiton to investigate further whether the takeover bid would affect Japan’s procurement of iron ore.

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