Rio said BHP Underestimate its Value and Prospect

News from London, Nov. 8: BHP said in Thursday: The world's largest mining company BHP Billiton put to it by the proposed all-stock acquisition “significantly underestimated the value and prospects." Rio said the condition of this proposal is three BHP share exchange one Rio share. BHP declared earlier it has sent purchase intentions and refused by Rio, but it is still seek for cooperation opportunity. “Rio has seriously consideration this proposal, suggest it is significantly underestimated its value and prospect, so they turned off it and go on their established strategy, including the conformity of Alcan”, Rio Tinto said in a statement.