Alibaba News Channel – Fresh speculation has swirled about mining giant BHP Billiton resurrecting a takeover bid for rival Rio Tinto, but such a move is unlikely before Rio repairs its balance sheet.
BHP, which has the most robust balance sheet among major rivals, has previously said it was shopping for acquisitions to take advantage of low prices amid the downturn.
But a move to revive a Rio bid four months after scrapping it would make little sense right now, said analysts, industry sources and fund managers.
The world’s largest mining company is probably sizing up other possible takeovers in areas such as potash and petroleum.
