Thursday, September 9, 2010

BHP (NYSE:BHP), ArcelorMittal (NYSE:MT) Drop Iron Ore Discussions

BHP Billiton (NYSE:BHP) has seemingly been everywhere in attempts to make deals lately, but the one they were attempting with ArcelorMittal (NYSE:MT) hasn't worked out, as they announced they've stopped the negotiations related to the iron ore assets in Guinea and Liberia.

The talks over over attempting to merge the separate assets both companies hold in the two countries into one joint venture.

According to their joint statement, they weren't able to reach a commercial agreement, so abandoned the negotiations.

Both companies will continue on in their with their own interests in the region.

BHP is still battling to acquire fertilizer giant Potash Corp. (NYSE:POT), waiting to see if there is a competitive bid waiting on the horizon for them.

No comments: