Antitrust Woes Force BHP, Rio Tinto To Nix Iron Combo

Law360, New York (October 18, 2010, 12:20 PM EDT) -- Mining giants Rio Tinto Ltd. and BHP Billiton Ltd. abandoned their proposed joint venture Monday after competition authorities in Europe, Asia and Australia threatened to block the deal or demanded significant concessions to let it go through.

The decision comes on the heels of Thursday's announcement from Germany's Federal Cartel Office confirming that it intended to prohibit the proposed joint venture in Western Australia based on its preliminary investigation.

Beyond Germany, the proposal also faced serious opposition from the European Commission, the Australian Competition and Consumer...
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