06/06/2008 - 13:37

BHP files Rio paperwork: ACCC

06/06/2008 - 13:37

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The Australian Competition and Consumer Commission will begin its review of BHP Billiton Ltd's proposed $200 billion acquisition of Rio Tinto Ltd after paperwork for the takeover was filed today.

BHP files Rio paperwork: ACCC

The Australian Competition and Consumer Commission will begin its review of BHP Billiton Ltd's proposed $200 billion acquisition of Rio Tinto Ltd after paperwork for the takeover was filed today.

The ACCC today received a submission from BHP Billiton Ltd that enables it to commence market inquiries into its proposed acquisition of Rio Tinto Ltd and Rio Tinto plc, ACCC Chairman, Mr Graeme Samuel, said.

The ACCC will assess the proposed acquisition in accordance with its Merger Review Process Guidelines and section 50 of the Trade Practices Act 1974 and invites comment from other participants in the mining industry, their customers and other interested parties.

BHP last week kicked off the formal regulatory process for the takeover and filed its first paperwork with the European Commission, the European Union's antitrust regulator.

 

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