BHP Sees Regulatory Outcome on Rio Bid by Year End

Global miner BHP Billiton expects international regulators to complete their review of its $142bn bid for rival Rio Tinto by the end of 2008, it said in a letter sent to Rio Tinto shareholders. "We expect that the various regulatory processes will be completed by the end of 2008, after which we should be in a position to send the offer documents to you," BHP Billiton Chairman Don Argus said in the letter, which was released to the Australian stock exchange on Wednesday.

By Mark Bendeich, Reuters