The European Commission (EC) has approved the merger of London-based Billiton plc with BHP Ltd of Australia.(Brief Article)
Mining Journal, June, 2001
The European Commission (EC) has approved the merger of London-based Billiton plc with BHP Ltd of Australia. The EC's investigation concentrated on the companies' collective position in the copper industry, noting that although BHP Billiton will be the world's largest supplier of copper concentrate to the custom smelting industry, this situation would not "allow the merged entity to enjoy a position of market dominance".
The merger received the approval of the Australian authorities late last month (MJ, June 8, p.451), and the parties anticipate the receipt of the outstanding, non-Australian regulatory approvals shortly. The merger is scheduled to take effect on June 29.
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