Takeover Confusion: BHP is The Predator
May 9th 2007 09:28
An earlier news report by The Age quoting BHP Billiton chief executive candidate Chris Lynch that BHP could be a takeover target was contradicted by the latest report of a market rumour that BHP could be the predator targeting rival mining giant, Rio Tinto, in the midst of a global takeover frenzy.
The rumour was backed with share prices of BHP and Rio soaring to records, with the former topped a peak of 4.5% before closing marginally lower to $31.93.
Both denied the rumours with no comments from BHP while Rio said it was not aware of any approach from the Melbourne-based word's largest mining giant.
More here: UPDATE 3-Rio Tinto soars on BHP bid talk; denies approach
The rumour was backed with share prices of BHP and Rio soaring to records, with the former topped a peak of 4.5% before closing marginally lower to $31.93.
Both denied the rumours with no comments from BHP while Rio said it was not aware of any approach from the Melbourne-based word's largest mining giant.
More here: UPDATE 3-Rio Tinto soars on BHP bid talk; denies approach
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