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BHPB bid for Rio - Rio uses profits to argue case against bid
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Wednesday, 27 Aug 2008
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Mining giant Rio Tinto has used the company's strong half year results to bolster its case against BHP Billiton's takeover bid.

Mr Paul Skinner chairman of Rio said that the board's rejection of BHP's offer remains unchanged. He said "In what are very dynamic times, as a board we're very encouraged by the performance of the organisation and its excellent leadership.”

He added that "I think the first half results demonstrate this very fully, the business has very strong momentum and excellent growth prospects."

Rio's more than doubled 2008 half year profits from last year to USD 6.9 billion.

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