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Today, Rio’s chief executive Tom Albanese told CNBC television that he considered the $140 billion proposal to be “dead in the water” .
Mr Albanese claimed that the offer lacked enough value. Previously he has declared that BHP’s all-share takeover bid significantly undervalued Rio’s operations and growth prospects.
Should the takeover go ahead however, a combined BHP-Rio would hold about 27 per cent of the world supply of iron ore, and would control much of the global flow of coal, copper, uranium and diamonds.
Mr Albanese claimed that the offer lacked enough value. Previously he has declared that BHP’s all-share takeover bid significantly undervalued Rio’s operations and growth prospects.
Should the takeover go ahead however, a combined BHP-Rio would hold about 27 per cent of the world supply of iron ore, and would control much of the global flow of coal, copper, uranium and diamonds.
