Investing

Blackstone (BX) Tries To Buy Rio Tinto (RTP)

BHP Billiton (BHP) may not get to buy Rio Tinto (RTP). Blackstone (BX) may beat them too it. According to the Telegraph, Blackstone is gettng together a group which may include an investment arm of the Chinese government.

According to the paper "Blackstone is ready to go further and break the business up completely. This would mean undoing this year’s merger with aluminium producer Alcan."

Rio Tinto has a market cap of over $150 billion. Blackstone clearly thinks that it can get much more than that especially by selling the company’s iron ore business.

Maybe the buy-out business isn’t dead after all, but look for BHP to come back with a larger offer.

Douglas A. McIntyre

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