BHP Billiton has made the first move in a bid to create a natural resources giant and one of the worlds largest companies, with a takeover approach to its arch- rival Rio Tinto.
尽管必和必拓此次接洽（将回收力拓的价格定在688亿英镑，其中不包含债务）立即遭到了拒绝，但外面觉得，必和必拓为一次长期的行动做好了筹备，同时剖析师预计，假如必要的话，该公司可能转而进行敌意回收。 Although the approach which valued Rio Tinto at ￡68.8bn , excluding debt was rejected out of hand, BHP is thought to be ready for a protracted1 campaign and analysts2 predicted it would go hostile if necessary.
假如这两家公司合并，将缔造全球最大的铁矿石、铜、铝生产厂家，并在煤炭、锌、钻石行业占据要紧地位。合并后的公司将与钢铁行业的阿塞洛-米塔尔一样成为行业霸主，其规模将比紧随其后的角逐对手高出数倍。
The combined entity3 would be the worlds biggest producer of iron ore, copper4 and aluminium5, and a major player in coal, zinc6 and diamonds. It would have the same dominance in the mining industry as Arcelor Mittal does in the steel industry, and would be several times bigger than its nearest rival.
必和必拓昨日表示，已就可能的出价致信力拓，提出以3股必和必拓股票交换1股的力拓股票力拓称，这一出价较其周三收盘价43.50英镑有21%的溢价。必和必拓拒绝就其下一步举动发表置评。
BHP said yesterday it had written to Rio about a possible offer of three BHP shares for each Rio share a 21 per cent premium7 to Wednesdays closing price of ￡43.50, according to Rio. It refused to comment on its next move.
汤姆?艾尔巴尼斯担任首席实行官的力拓回绝了上述接洽。该公司表示，经过仔细考虑，董事会的结论是：这一出价大大低估了力拓的价值及其前景。
Rio, led by chief executive Tom Albanese, rejected the approach. It said that after careful consideration the board had concluded the offer significantly undervalues Rio Tinto and its prospects.
熟知力拓状况的人士昨日表示，上述出价甚至都不接近令该公司感兴趣与必和必拓达成友好买卖的水平。他们需要重新回来，拿出完全不一样的出价。
People close to Rio said yesterday that the offer isnt even close to a level that would tempt8 the company into a friendly deal with BHP. They would have to come back with a completely different offer.
