ABN AMRO joins Rio Tinto defense team for BHP bid

SYDNEY (MarketWatch) -- ABN AMRO Holdings NV (ABN) has been appointed defense advisor by Rio Tinto Ltd.on a takeover bid from rival BHP Billiton Ltd. (BHP.AU), a regulatory document released by Royal Bank of Scotland Group PLC (RBS.LN) on June 30 shows. Rio Tinto has rejected the hostile takeover offer, valued around US$170 billion, from BHP Billiton, which Rio Tinto says significantly undervalues its assets. BHP is offering 3.4 of its shares for every Rio Tinto share held. Rio Tinto is also being advised by Credit Suisse Group, JP Morgan Cazenove Ltd., Macquarie Group Ltd., Morgan Stanley, NM Rothschild and Deutsche Bank. ABN AMRO was acquired by a consortium led by Royal Bank of Scotland and including Dutch-Belgian finance business Fortis NV and Spain's Banco Santander SA.