|
BHP under pressure to sweeten offer for Rio: report
|
|
|
Posted on
Jan 30 2008 2:28 AM
by
Asif
|
The world's largest miner BHP Billiton is under increasing pressure to sweeten its three-for-one share offer for Rio Tinto, a report said Wednesday.
Rio's advisors Macquarie Bank have suggested BHP could afford to increase its proposal to as much as five-for-one given the benefits of creating a mining "super major", The Australian newspaper said. The Australian, citing analysis drawn up by Macquarie Bank and seen by the newspaper, said BHP could afford to raise its offer to 4.25 BHP shares for every Rio share based on Rio's 2008 forecast earnings, declared merger synergies and a planned share buyback.
|
|
No comment found for this blog
|
|