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BIL
BIBLT
BIL - BHP Billiton Plc - Market speculation
BHP Billiton Plc
Share code: BIL
ISIN: GB0000566504
News release
8 November 2007
MARKET SPECULATION
BHP Billiton notes the recent speculation in relation to a potential offer
for Rio Tinto at a premium.
BHP Billiton now confirms that it recently wrote to the Board of Rio Tinto
outlining a proposal in relation to a potential combination with Rio Tinto on
terms incorporating a premium, reflecting its confidence in the benefits for
both sets of shareholders of such a transaction. In preparing its proposal,
BHP Billiton has examined in detail the regulatory issues and other
practicalities of a combination.
In its letter, BHP Billiton sought to pursue discussions with Rio Tinto
regarding its proposal. Rio Tinto rejected the proposal.
BHP Billiton has again written to Rio Tinto and intends to continue to seek
an opportunity to meet and discuss its proposal with Rio Tinto. There can be
no assurance that any transaction or offer will result from BHP Billiton`s
proposal.
Further information on BHP Billiton can be found on our Internet site:
http://www.bhpbilliton.com
Australia United Kingdom
Samantha Evans, Media Relations Andre Liebenberg, Investor Relations
Tel: +61 3 9609 2898 Mobile: +61 Tel: +44 20 7802 4131 Mobile: +44
400 693 915 7920 236 974
email: email:
Samantha.Evans@bhpbilliton.com Andre.Liebenberg@bhpbilliton.com
Jane Belcher, Investor Relations Illtud Harri, Media Relations
Tel: +61 3 9609 3952 Mobile: +61 Tel: +44 20 7802 4195 Mobile: +44
417 031 653 7920 237 246
email: email: Illtud.Harri@bhpbilliton.com
Jane.H.Belcher@bhpbilliton.com
United States South Africa
Tracey Whitehead, Investor & Media Alison Gilbert, Investor Relations
Relations Tel: SA +27 11 376 2121 or UK +44 20
Tel: US +1 713 599 6100 or UK +44 7802 4183
20 7802 4031 email: Alison.Gilbert@bhpbilliton.com
Mobile: +44 7917 648 093
email:
Tracey.Whitehead@bhpbilliton.com
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if any
person is, or becomes, "interested" (directly or indirectly) in 1% or more of
any class of "relevant securities" of BHP Billiton or Rio Tinto, all
"dealings" in any "relevant securities" of that company (including by means
of an option in respect of, or a derivative referenced to, any such "relevant
securities") must be publicly disclosed by no later than 3.30 pm (London
time) on the London business day following the date of the relevant
transaction. This requirement will continue until the date on which the offer
becomes, or is declared, unconditional as to acceptances, lapses or is
otherwise withdrawn or on which the "offer period" otherwise ends. If two or
more persons act together pursuant to an agreement or understanding, whether
formal or informal, to acquire an "interest" in "relevant securities" of BHP
Billiton or Rio Tinto, they will be deemed to be a single person for the
purpose of Rule 8.3.
Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant
securities" of either BHP Billiton or Rio Tinto by BHP Billiton or Rio Tinto,
or by any of their respective "associates", must be disclosed by no later
than 12.00 noon (London time) on the London business day following the date
of the relevant transaction.
A disclosure table, giving details of the companies in whose "relevant
securities" "dealings" should be disclosed, and the number of such securities
in issue, can be found on the Takeover Panel`s website at
www.thetakeoverpanel.org.uk.
"Interests in securities" arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an "interest"
by virtue of the ownership or control of securities, or by virtue of any
option in respect of, or derivative referenced to, securities.
Terms in quotation marks are defined in the Code, which can also be found on
the Panel`s website. If you are in any doubt as to whether or not you are
required to disclose a "dealing" under Rule 8, you should consult the Panel.
Date: 08/11/2007 13:28:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
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implicitly, represent, warrant or in any way guarantee the truth, accuracy or
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