Investment group Blackstone is preparing a bid for mining giant Rio Tinto, according to a report today in Britain’s Daily Telegraph. The Blackstone bid, in conjunction with China’s $200 billion sovereign wealth fund, would surpass BHP Billiton’s flagging $140 billion offer. Blackstone would reportedly seek to break Rio Tinto up into separate assets. (Reuters)
The Bottom Line
December 10, 2007
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