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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (3305)	2/5/2008 5:42:18 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 6370

RTP News: SAN FRANCISCO (MarketWatch) - BHP Billiton Ltd. (BHP: -4.1%) launched a formal bid to take over rival miner Rio Tinto Ltd. (RTP 421.50, -10.66, -2.5%) for about $173.6 billion, The Wall Street Journal reported late Tuesday on its Web site. BHP is offering 3.4 BHP shares for each Rio Tinto share, an increase from its initial and informal proposal of a three-for-one, all-share takeover, according to the newspaper. Rio Tinto has so far refused to enter into talks with BHP Billiton. The proposal is the biggest ever mining takeover offer, the newspaper said. (EDIT: That values RTP at 470, based on current BHP price)