| From Bloomberg: BHP Billiton Ltd. abandoned its yearlong pursuit of Rio Tinto Group, blaming the rout in commodities prices and the credit-market squeeze for derailing the biggest hostile takeover.
Marius Kloppers, chief executive officer of the world's largest mining company, said the combination of $40 billion in new debt and regulatory hurdles made the $66 billion acquisition too risky at a time when the slowing global economy reduced demand for raw materials. The transaction was worth as much as $194 billion in May before metals prices slumped. .... Full Article: Source
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