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ABN AMRO Advising Rio Tinto on BHP Takeover Bid

July 24, 08 by IDEX Online Staff Reporter

ABN AMRO Holdings NV has been appointed as defense advisor by Rio Tinto on BHP Billiton’s bid to takeover its rival mining company, according to a regulatory document from the Royal Bank of Scotland (RBS), one of a consortium of three banks that recently acquired ABN AMRO.

 

Rio Tinto, according to DowJones, is also being advised by Deutsche Bank, NM Rothschild, Credit Suisse Group, JP Morgan Cazenove, Morgan Stanley and Macquarie Group.  

 

Rio has repeatedly rejected acquisition moves made by BHP Billiton, saying that they significantly undervalue the company. Under the terms of BHP’s proposal, 3.4 BHP shares would be offered for every Rio share.

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