Ceramic Industry News

Rio Tinto Rejects BHP Billiton's Offers (posted 2/6/08)

The Rio Tinto boards have unanimously rejected BHP Billiton’s pre-conditional offers as not being in the best interests of shareholders.

The boards of Rio Tinto have given careful consideration to BHP Billiton’s pre-conditional offers to acquire the whole of the issued share capital of Rio Tinto plc and Rio Tinto Limited. Under the proposal, each Rio Tinto share would be exchanged for 3.4 BHP Billiton shares. The boards have concluded that the pre-conditional offers significantly undervalue Rio Tinto. Accordingly, the boards have unanimously rejected BHP Billiton’s pre-conditional offers as not being in the best interests of shareholders.

Rio Tinto Chairman Paul Skinner said, “BHP Billiton’s offers, while improved, still fail to recognize the underlying value of Rio Tinto’s quality assets and prospects. Our plans are unchanged, and will remain so unless a proposal is made that fully reflects the value of Rio Tinto. Accordingly, we are forging ahead with our strategy of operating and developing large-scale, long-life, low-cost assets to generate significant value for shareholders.”

Rio Tinto Chief Executive Officer Tom Albanese said, “Rio Tinto has an exceptional portfolio of assets and significant stand-alone growth opportunities, particularly in iron ore, copper and aluminium. These assets and opportunities, combined with the company’s strong track record for value delivery, project execution and successful exploration, mean that Rio Tinto is very well positioned to take advantage of strong global markets and the growth in the resources industry, maximizing value for shareholders.”

Visit www.riotinto.com or www.bhpbilliton.com for more information.


Did you enjoy this article? Click here to subscribe to Ceramic Industry Magazine.

You must login or register in order to post a comment.



Image Galleries

2015 Ceramics Expo

Snapshots from the 2015 Ceramics Expo, April 28-30, Cleveland, Ohio. Posted: May 14, 2015.


Ceramics Expo podcast
Editor Susan Sutton discusses the upcoming Ceramics Expo with event director Adam Moore.
More Podcasts

Ceramic Industry Magazine

June 2015 ceramic industry

2015 June

This issue features our first annual Supplier of the Year Awards. Be sure to check it out!
Table Of Contents Subscribe

Daily News

We know where you find the latest ceramic industry news (ahem), but where do you catch up on the rest of your daily news?
View Results Poll Archive


M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Ceramics Industry\handbook of advanced ceramics.gif
Handbook of Advanced Ceramics Machining

Ceramics, with their unique properties and diverse applications, hold the potential to revolutionize many industries, including automotive and semiconductors.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.


facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px


CI Data Book July 2012

Ceramic Industry's Directories including Components, Equipment Digest, Services, Data Book & Buyers Guide, Materials Handbook and much more!