BHPB bid for Rio - Rio Tinto receives EU statement of objections
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Thursday, 20 Nov 2008
Bloomberg reported that Rio Tinto Group has received the EU statement of objections to BHP Billiton Limited USD 62 billion hostile offer.
The details of the statement are confidential and Rio declined to comment further.
The statement from the European Commission will outline concerns that the combination of BHP and Rio may lead to iron ore price increases. BHP may face pressure to sell assets and prove to regulators by January 15th 2008 that the merger won’t restrain competition.
