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Rio Tinto shows poise amid 65% profit plunge (from Corporate Dealmaker)

Anglo-Australian mining giant Rio Tinto plc (NYSE:RTP) reported first-half net earnings of $2.5 billion, 65% below first-half 2008 -- a result of metal and mineral prices diving with the economy and companies letting their inventories shrink.But asset sales, 16,000 job cuts, a $15.2 billion rights issue, a joint venture...

Posted on August 20, 2009 9:14 AM

Rio Tinto drops Chinalco for BHP JV (from Corporate Dealmaker)

Rio Tinto plc (NYSE:RTP) terminated its $19.5 billion deal with Aluminum Corp. of China, opting for a 50-50 joint venture with BHP Billiton Ltd. (NYSE:BHP), its one-time suitor, and a $15.2 billion rights issue. The Chinalco deal ran into trouble when politicians, among others, worried about China having too much...

Posted on June 4, 2009 11:04 PM

Chinalco fades, Rio Tinto maneuvers (from Corporate Dealmaker)

With Rio Tinto plc's (NYSE:RTP) $19.5 billion deal with Aluminum Corp. of China, known as Chinalco, on the verge of collapse, the mining giant is giving Plan B more thought. That plan could include a rights issue valued at more than $10 billion. The Aussie company issued a statement...

Posted on June 4, 2009 12:16 PM

Rio Tinto's $8B safety net sinks share price (from Corporate Dealmaker)

Australian mining giant Rio Tinto plc (NYSE:RTP) has a Plan B if its deal to sell stock and assets worth $19.5 billion to Aluminum Corp. of China is blocked by Treasurer Wayne Swan. The Sunday Times reports debt-ridden Rio secretly drew up contingency plans to raise £5.4 billion ($8 billion)...

Posted on April 6, 2009 4:25 PM

InBev postpones rights issue but Budweiser still on tap (from Corporate Dealmaker)

InBev SA, acquiring American beer giant Anheuser Busch Cos., had to postpone a $9.8 billion rights issue due to "unprecedented volatility in the global capital markets, particularly during the last week." The Belgian brewer is waiting for markets to stabilize.InBev said the deal will still close at year's end...

Posted on October 15, 2008 5:41 PM