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BHP-Rio Ting to deal passes Australia statest
rio tinto and bhp billition share the world's second and third-largest iron ore producers, respectively and the merger would allow them to overtake the world's largest companhia vale do rio doce .
shares, of rio tinto soared after the news went public wednesday, jumping more than 12 percent by mid-afternoon .
bhp billiton's proposed $114bn ( 64bn) hostile bid for rival mining giant rio tinto has been cleared by australia's competition watchdog .
both bhp and rio are anglo-australian companies, with their shares listed in london and sydney .
rio tinto hares so far rejected all bhp billition's bid proposals .
there's no guaranteesday, of course, because the flip side of that may be that european steel mills have a lot more say and lobbying power in convincing the european commission otherwise .
Generated 2008-10-3_22:28
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