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CaesarStone

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CaesarStone

Re: TechKim post# 288

Wednesday, 02/06/2008 12:19:55 PM

Wednesday, February 06, 2008 12:19:55 PM

Post# of 1743
Rio Tinto rejects sweetened BHP bid as too low

LONDON (Reuters) - Bid target Rio Tinto (RIO.L: Quote, Profile, Research) (RIO.AX: Quote, Profile, Research) rejected a sweetened all-share bid from rival mining group BHP Billiton (BLT.L: Quote, Profile, Research) (BHP.AX: Quote, Profile, Research) on Wednesday.

"The boards have concluded that the pre-conditional offers significantly undervalue Rio Tinto. Accordingly the boards have unanimously rejected BHP Billiton's pre-conditional offers as not being in the best interests of shareholders," a statement said.

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