AAP reported that Mr Tom Albanese CEO of Rio Tinto has again rejected the notion of teaming up with other companies to counterbid for hostile suitor BHP Billiton Ltd.

Mr Albanese said that "I think back in November, I completely rejected the concept of a PacMan type defense and I would reject that again now.”

An April 8 report from ING Bank NV said that a defensive bid by Rio Tinto for BHP Billiton, with the disposal of the petroleum assets and some mining assets, could be feasible. ING Bank listed Woodside Petroleum Ltd, Australia's second largest oil and gas producer, as a potential partner in the counter bid.