Aussie Regulator Questions BHP-Rio Tinto Deal

Law360, New York (August 22, 2008, 12:00 AM EDT) -- Raising questions about the deal, Australia's antitrust regulator said Friday that mining giant BHP Billiton's approximately $130 billion hostile bid for Rio Tinto could harm competition in the sector of iron ore, a key ingredient in the making of steel.

The Australian Competition and Consumer Commission expressed its preliminary view on the proposed transaction in a report, saying that the deal could affect the global seaborne supply of iron ore lump and iron ore fines. The deal would likely increase costs for Australia's steel makers, the...
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