Tuesday, April 19, 2005 BHP BILLITON BHP Billiton has cleared another hurdle in its AUD9.2 billion takeover of WMC Resources Ltd after the competition regulator approved the transaction. The acquisition would make BHP Billiton the world's third largest nickel producer and second largest copper producer. But the Australian Competition and Consumer Commission (ACCC) said it would not substantially reduce market competition. "BHP Billiton faces competition from a number of alternative suppliers, there is significant international trade and the prices for these products are internationally determined," Australian Associated Press reports the ACCC as saying today.
(See Australian Associated Press:
ACCC approves BHP acquisition of WMC) (Complete Text - News Release) PDF
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Tuesday, April 19, 2005
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