| From telegraph.co.uk: BHP Billiton chairman Don Argus insisted that it was only his company's hostile bid for Rio Tinto that was propping up Rio's share price.
In a letter to Rio shareholders, Mr Argus said the offer of 3.4 BHP shares for every Rio share was a 45pc premium to Rio's share price.
"This is a substantial premium by any measure, and one that is reflected in the large increase in the market for Rio Tinto shares, relative to BHP Billiton shares, since our proposal became public last November," he said....Full Article Source |