BHP Billiton scraps bid for Rio Tinto
BHP Billiton scrapped its $66bn bid for Rio Tinto this morning, saying that it no longer considers the move to be in the best interests of its shareholders, reported the Times.
BHP Billiton formalized its unwelcome takeover bid for Rio Tinto on Wednesday and raised the stakes with an all-share offer worth $147.4 billionthat would create a global mining monolith.