/top_stories/article/25682/print
/top_stories/article/25682/print

/top_stories/article/25682/print


From: Reuters
Published November 22, 2007 01:27 PM

UBS, Deutsche join advisory army on Rio, BHP deal

/top_stories/article/25682/print

By Eleanor Wason

LONDON (Reuters) - Two more investment banks have joined the army of advisers lined up by the world's biggest mining group, BHP Billiton <BHP.AX>, and its takeover target Rio Tinto <RIO.AX> this week, according to regulatory filings.

Deutsche Bank <DBKGn.DE> started to reveal daily dealings in BHP <BLT.L> and Rio <RIO.L> shares on Tuesday because it is advising Rio, and UBS <UBSN.VX> began to publish trading in the companies on the same day as an adviser to BHP.

Banks have rushed for a role in what would be the world's second-largest takeover to secure a top place on the advisory league tables.

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Rio has rejected BHP's proposed all-share offer, worth $140 billion when first announced, as being too low.

BHP already has advisers Citigroup <C.N>, Goldman Sachs <GS.N>, Australian investment bank Gresham Partners and HSBC <HSBA.L><0005.HK> as well as Merrill Lynch <MER.N> as corporate broker to the company.

Credit Suisse <CSGN.VX>, JP Morgan <JPM.N>, Macquarie <MBL.AX>, Morgan Stanley <MWD.N> and Rothschild <ROT.UL> are all advising Rio Tinto.

(Editing by Quentin Bryar)

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