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25/11/2008 One of the biggest planned mergers is scrapped

BHP Billiton announced it was seeking to purchase rival mining group Rio Tinto Group in an all-share deal. The initial offer of 3.4 shares of BHP Billiton stock for each share of Rio Tinto was rejected by the board of Rio Tinto for "significantly undervaluing" the company. The bid was withdrawn due to a global recession.

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