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BHP Billiton, the world's largest mining company, has announced that it has made an unsolicited bid to acquire Rio Tinto Group in a share exchange offer that values Rio Tinto at approximately US$150 billion and includes a US$30 billion cash distribution to BHP Billiton shareholders after completing the share exchange acquisition. This transaction would rank as one of the world's largest takeover deals and would create a combined company headquartered in Australia with a market capitalization of approximately US$360 billion.  Davies is acting as Canadian counsel to BHP Billiton.

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2008