The management of BHP Billiton confirms that it has recently contacted the board of Rio Tinto on a merger possibility. BHP Billiton is the largest mining concern in the world. BHP notes that the letter, which it submitted to Rio Tinto has been rejected.
There are estimates that the deal could be worth more than $110 billion.
Despite the offer being rejected, BHP said it would continue to pursue dialog with the smaller rival on merging the two companies.
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