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/ 28 March 2008

BHP Billiton to phase out Standard Bank business

Mining group BHP Billiton will phase out annual business with Standard Bank in the first corporate spat brought on by the power crisis. Business Day reported that the business may be worth R2,4-billion and the decision came after a bank executive suggested that one of the mining group’s aluminium smelters be shut down to save electricity.

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/ 7 February 2008

BHP Billiton bid for Rio Tinto fails again

BHP Billiton, the world’s biggest mining company, sweetened its takeover bid for rival Rio Tinto on Wednesday to ,4-billion, but its proposal was again rebuffed. Amid reports that Rio Tinto could become the centre of a bidding battle, the company’s management rejected the BHP offer as ”not being in the best interests of shareholders”.

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/ 6 February 2008

BHP raises Rio bid; no immediate Chinese riposte

BHP Billiton launched a hostile ,4-billion bid for rival Rio Tinto in a move that could trigger a Chinese-led counterbid in the world’s second biggest corporate takeover. Combined, BHP and Rio would create the world’s third-richest company, with a market capitalisation eclipsed only by Exxon Mobil and General Electric.

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/ 28 November 2007

Billiton says still hopeful of Rio Tinto takeover

Resources giant BHP Billiton said on Wednesday it still hoped rival Rio Tinto would warm to its uninvited takeover bid, despite opposition from customers who fear it will lead to a stranglehold on prices. BHP chief executive Marius Kloppers said that its executives had been arguing the "irresistible logic" of the tie-up with customers and investors around the world for two weeks.

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/ 20 November 2007

BHP chief talks Rio value, steelmakers howl

The chief of the world’s biggest mining group, BHP Billiton, pushed his case for a mega-merger with rival Rio Tinto on Tuesday in the face of growing opposition from big Asian customers. Rio Tinto, meanwhile, was considering offering joint ventures with BHP as an alternative to its bigger rival’s takeover offer.

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/ 12 November 2007

BHP Billiton not giving up on Rio Tinto

The world’s biggest resources group, BHP Billiton, on Monday piled pressure on Rio Tinto to take another look at its proposed $153-billion all-scrip merger by pitching the benefits of the merger to analysts and shareholders. Marius Kloppers, CEO of BHP Billiton, said the combination would unlock value that is otherwise unavailable.