Dept. of Justice Lets BHP Inch Closer to Rio Merger
July 03, 08
The U.S. Department of Justice (DoJ) and the Federal Trade Commission (FTC) have granted early termination of the Hart-Scott-Rodino (HSR) waiting period for BHP Billiton’s proposed acquisition of Rio Tinto, BHP announced Thursday.
Termination of the waiting period satisfies part of the U.S. merger control pre-condition to BHP Billiton’s proposed offer for Rio Tinto.
It was accompanied by a notice that the Antitrust Division of the DoJ has concluded its review without further action.
Alberto Calderon, BHP’s chief commercial officer said the company is “very pleased” by the notice and completion of the merger review.
The offer remains subject to previously announced pre-conditions, including certain actions that may be brought by the DoJ or FTC.