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Japan warns iron miner of legal action

  • Friday, November 7, 2008
  • Source:

  • Keywords:iron miner
[Fellow]
 
 
Japan has told BHP Billiton it will take legal action if the mining giant does not provide confidential details of its proposed takeover bid for arch rival Rio Tinto.
 
The threat from the Japan Fair Trade Commission follows a two-month stand-off between BHP and the Japanese regulator.
 
The Japanese have become increasingly worried that a merged BHP-Rio would dominate Western Australia's iron ore industry, forcing huge price increases on to Japan’s steel mills,
 
China and the European Commission have also expressed similar concerns over the increased strength of a merged mining giant.
 
BHP has, up to now, refused to give details of the confidential Rio bid details, even though the merger would account for about a third of the world’s traded iron ore.
 
Editor:    Ivy
M S N:   noble-ferroalloys@hotmail.com
E-mail:    tiandandan226@yahoo.com.cn
Write to editor: service@ferro-alloys.com
 
  • [Editor:editor]

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