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Chinalco-Rio deal milestones
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Time
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Events
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Nov 8,2007
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BHP Billiton put forward a takeover proposal to Rio Tinto
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Feb 1,2008
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Chinalco and Alcoa Inc buy 12 percent stake in Rio Tinto for ($14.05 billion)
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Nov 25,2008
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BHP scrapped its bid for Rio
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Dec,2008
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Chinalco was said to further invest in Rio Tinto
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Feb 2,2009
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Rio Tinto and Chinalco confirmed on their negotiation
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Feb 12,2009
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Chinalco and Rio Tinto announced they entered strategic partnership.
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Feb 16,2009
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Chinalco and Rio Tinto deal seen uncertain, as reports have it that Rio’s institutional investors were reaching for BHP.
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March 17,2009
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Foreign Investment Review Board of Australia announces to extend the FIRB review period for up to a further 90 days from this day.
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March 26,2009
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The Australian Competition and Consumer Commission says it won’t block the Chinalco-Rio Tinto deal
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March 27,2009
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Four Chinese banks announced to lend Chinalco with $21 billion for the Chinalco-Rio Tinto deal.
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March 29,2009
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Chinalco announces its 2008 results, with its total profits falling 99.17 percent year-on-year. The company’s management says it will not affect its buy in Rio Tinto.
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Apr 2,2009
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Germany approves the Chinalco-Rio Tinto deal.
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May 15,2009
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Chinalco and Rio Tinto says they have has been cleared by the US Committee on Foreign Investment.
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June 4,2009
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Rio Tinto announces Rio Tinto announced share trading halt on June 5, as it may drop the $19.5 billion deal with Chinalco.
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June 5,2009
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Chinalco confirms their $18.5 billion deal break up and Rio Tinto will pay Chinalco with the agreed break fee of $195 million.
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