BHP, Rio Seek to Sway Investors in Takeover Battle

BHP Billiton Ltd., the largest mining company, will begin talks ``imminently'' to win over shareholders to its offer for Rio Tinto Group after failing to gain a meeting with the London-based company's board.

Executives at Rio Tinto, who rejected the bid, are countering with discussions to persuade its investors that the proposed $152 billion takeover undervalues the company.

``This proposal will benefit both sets of shareholders and we will be very patient to get that message out,'' BHP Billiton Chief Executive Officer Marius Kloppers said on a conference call today from London.

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- Posted: 2007-11-12 09:40:23

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