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Rio shares jump on talk of fresh BHP offer
LONDON/PARIS (Reuters) - Shares in miner Rio Tinto <RIO.L> rose nearly 4 percent to their day's high on Tuesday on market talk that BHP Billiton <BLT.L> was planning to offer 3.8 of its shares for every Rio share in a takeover bid, traders said.
BHP declined to comment.
At 1419 GMT (10:19 a.m. EDT), Rio shares were up 3.5 percent at 66.42 pounds, making it the top gainer on Britain's FTSE benchmark <.FTSE>, which was down 0.2 percent.
Over 90 percent of the 30-day daily average volume in Rio had changed hands by 1418 GMT (10:18 a.m. EDT), compared with about 65 percent on the FTSE 100.
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BHP was up 2.3 percent.
(Reporting by Sitaraman Shankar, Amanda Cooper and Blaise Robinson)
