1.0 link 85388 <![CDATA[Rio Rejects BHP Billiton's $147 Billion Hostile Bid]]> http://www.huffingtonpost.com/2008/02/06/rio-rejects-bhp-billitons_n_85388.html Rio Tinto Group, the world's third- largest mining company, rejected a sweetened $147 billion offer from BHP Billiton Ltd. because it ``significantly'' undervalues the iron-ore and copper producer.

BHP's bid doesn't ``recognize the underlying value'' of London-based Rio's assets and prospects, Rio Chairman Paul Skinner said today in a statement. ``Our plans are unchanged, and will remain so unless a proposal is made that fully reflects the value of Rio.''

BHP Chief Executive Officer Marius Kloppers raised the bid by 13 percent...

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