BHP Billiton chief says more bids for WMC possible

0 Comments | AFP, March, 2005

SYDNEY (AFP) — Anglo-Australian resources giant BHP Billiton warned that its friendly 7.3 billion US dollar bid for WMC Resources was not a done deal and predators could still make a play for Australia's last independent miner.

WMC shares jumped almost seven percent after a trading halt was lifted on the Australian Stock Exchange as investors anticipated a bidding war for the company, with global miner Rio Tinto considered most likely to table a new offer.

BHP Billiton chief executive Chip Goodyear said the situation surrounding WMC remained competitive even though his company's bid has support from the WMC board and tops Swiss rival Xstrata's offer by 800 million US dollars.

Xstrata has said it will not increase its hostile 7.00 Australian dollars (5.53 US)...