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Iron Investing News reports the EU issued objections to BHP Billiton’s hostile takeover of Rio Tinto. Europe’s steel manufacturers brought their worries to the EU Competition Commissioner in May. The steel industry fears that such a deal could create inflated raw material prices. BHP first made the bid of 3.4 BHP shares for every Rio Tinto …
Iron Investing News reports the EU issued objections to BHP Billiton’s hostile takeover of Rio Tinto.
Europe’s steel manufacturers brought their worries to the EU Competition Commissioner in May. The steel industry fears that such a deal could create inflated raw material prices. BHP first made the bid of 3.4 BHP shares for every Rio Tinto share in February of this year. Brazil’s Rio opposes the takeover because it feels BHP’s offer undervalues the company.
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