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BHP - 23000?

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Good morning. Do you think BHP will break through the 23000 mark today? I really hope it's a good day for all of us!!!
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16 REPLIES 16
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If not today early next week. BIL performed well overnight.I hope the up swing will continue for now.
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Is Thursday not d-day regarding the offer?
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SimonPB
Valued Contributor
yes, and cancelling the Rio offer will be good news me thinks.
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Not applicable
Me 2!!! Pulled back 28,4%. Still 3,7% before BP...
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yrg
Frequent Contributor
Simon, so you saying if the Rio deal goes through we likely to see the gains of the last few days wiped out? And if it does NOT go through then BHP keeps going up?
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SimonPB
Valued Contributor
no, I think no deal would be good for BIL. problem with large mergers (call then what you will) is that they take ages to bed down and this takes management focus off the business. Soemtimes proposed synergies are not as good as expected and then of course the risk of over paying (specially seeing as Rio say they want more). So I think no deal would be good for the BIL price.
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Not applicable
Cois, at the rate its going could be 24000!
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yrg
Frequent Contributor
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Not applicable
24000 just broken. Short target 24500. Next 25000
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surfer
Regular Contributor
I never liked the idea of bil buying rio from day one.honestly it never really looked like going thru but who knows.How much legs does the commodity cylcle still have is a tough question to predict ,so bil could pay too much if buy rio right now imo
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Project_Directo
Super Contributor
NO, screem through to 300,imo
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Project_Directo
Super Contributor
Mateyz, if the big news comes out today expect the SP to fall back say 5%,imo
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Not applicable
Rio deal is dead in the water, Alcoa buys 12% stake in RIO.
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Project_Directo
Super Contributor
Wheres the news Skipo, good move, price control on the Aluminium means more up side for both.imo
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SimonPB
Valued Contributor
Alcoa Inc. Partners with Chinalco to Acquire a 12% Stake in Rio Tinto

NEW YORK - (BUSINESS WIRE) - Alcoa Inc. (NYSE: AA) announced today that it is partnering with Aluminum Corporation of China ("Chinalco") to acquire 12 percent of the UK common stock of Rio Tinto plc. Alcoa will contribute up to $1.2 billion to the total investment.
Commenting on the investment, Alain Belda, Alcoa Chairman and Chief Executive Officer, said, "We have long believed that Rio Tinto has a world-class portfolio of assets and is very well positioned to prosper in the current mining cycle. This investment, made in partnership with Chinalco, allows us to mutually benefit from developments in the sector. We have known Chinalco for many years, dating back to our participation in the successful launch of Chalco's IPO, and are looking forward to this new venture." The investment will be made through a Special Purpose Vehicle, called Shining Prospect Pte. Ltd. ("SPPL") created for this purpose. SPPL is based in Singapore and wholly owned by Chinalco. Through its investment, Alcoa will acquire an equity stake in SPPL commensurate with its cash contribution to the investment.

About Alcoa
Alcoa is the world's leading producer and manager of primary aluminum, fabricated aluminum and alumina facilities, through its growing position in all major aspects of the industry. Alcoa serves the aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design, engineering, production and other capabilities of Alcoa's businesses to customers. In addition to aluminum products and components including flat-rolled products, hard alloy extrusions, and forgings, Alcoa also markets Alcoar wheels, fastening systems, precision and investment castings, structures and building systems. The Company has 107,000 employees in 44 countries and has been named one of the top most sustainable corporations in the world at the World Economic Forum in Davos, Switzerland. More information can be found at www.alcoa.com (c) 2008 Business Wire. All Rights Reserved. Business Wire
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Project_Directo
Super Contributor
small beer really, or saki,imo
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