OT? BHP lines up $70 bln finance package from Citi

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Interesting, but does this mean anything to us?


BHP lines up $70 bln finance package from Citi: paper
2 hours, 6 minutes ago



BHP Billiton (BLT.L) has lined up a $70 billion financing package to bolster its $140 billion takeover approach for rival miner Rio Tinto (RIO.L), the Financial Times said on Saturday.

Rio rejected the all-share offer from BHP Billiton on Thursday, saying it was too low. But there is speculation BHP will sweeten its offer, which helped boost Rio shares for a second day on Friday.

The FT, quoting market sources, said BHP's arrangement of debt facilities through U.S. bank Citigroup (C.N) indicated it may make a hostile bid.

BHP declined to comment and Citigroup could not immediately be reached for comment.

Rio's board is open to a higher BHP approach and other offers, a source familiar with the matter told Reuters on Friday.

A marriage of BHP (BLT.AX) and Rio (RIO.AX) would create the world's biggest mining force, capable of controlling the global flow of loads of iron ore, copper, coal and other commodities for industrial use.

Analysts said the BHP approach may be just the first shot in a battle that could draw in other parties and push the bidding for Rio above $170 billion.

(Additional reporting by Eleanor Wason)

(Reporting by Steve Slater, Editing by Peter Blackburn)

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hmmm, I wonder if we are Rio Tinto

They haven't filed their value, bidding war.

Wouldn't that be ?!

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brigantine said:

hmmm, I wonder if we are Rio Tinto

They haven't filed their value, bidding war.

Wouldn't that be ?!

Good gosh, Brig... Any of this would be awesome. I can't help but think all the big boys are involved in this... Nothing I can point to definitively, but that is the way a master strategist operates - deception, misdirection, misinformation until the boom is lowered. I have been thinking lately - Peyton Manning at the line of scrimmage pointing, talking to his receivers, backs, and linemen (same kind of deal). Weren't the Africa Korps battles in WWII between Rommel and Montgomery also series of feints and maneuvers... The examples go on and on. Most important of all is Fipke from whom UC seems to have learned purty near everything... He seems to have written the book of this sort of thing. Look at all of the elements... Tyler boys, all the wacky stuff - seems designed to absolutely confuse and confound.