Something to watch develop Here are a couple of articles out of Oz. It's already tomorrow there.
Now what kind of metals operation does Billiton have already established in Oz? What is WMC #3 and Billiton #4 in world production of? Somebody is getting hungry.
P10
https://www.thecouriermail.com.au/common/story_page/0,5936,2020076%255E3122,00.html
An acquisitive BHP eyes opportunities
21may01
BHP is still looking for more acquisitions just a few days after shareholders voted overwhelmingly to approve the $57 billion merger with resources giant United Kingdom-listed Billiton Plc, according to the company's managing director Paul Anderson.
Mr Anderson would not rule out a takeover of Australian companies such as Woodside Petroleum or diversified miner WMC. "There's always room on the table for something else," Mr Anderson said yesterday.
He said while the merger with Billiton was being set up BHP did not want to become involved in any other matters. "We had a pending shareholder meeting and the last thing you want to do is have a conversation with somebody or take a positive step that suddenly causes you to have to issue press releases or revise the (shareholder) circular," Mr Anderson said.
"Now that we've got through the shareholder approval we can start to broaden our thinking again.
"The sky's the limit but I'm not going to respond to anything specific."
In March, the Perth-based Woodside talked with BHP, looking for a white knight to stave off a potential foreign takeover.
Last month, Treasurer Peter Costello killed an attempted $10 billion takeover of Woodside by Royal/Dutch Shell because of national interest. Speaking on Channel Nine's Business Sunday program, Mr Anderson said he was confident the merger with Billiton would not face any problems with the Foreign Investment Review Board and the European Commission's competition authorities.
With the deal approved by shareholders, Mr Anderson, who leaves the company at the end of next year, said his first priority was to get the new organisation "bedded down" so that employees know what to expect.
"You want to eliminate as much anxiety as you can within an employee base," he said. "There is always a lot of anxiety when you have a big change like this, so that it my main concern."
Mr Anderson said that , because BHP and Billiton did not have much overlapping in operations, he did not see any problems gaining approval from the FIRB and EC regulatory authorities.
On Friday, BHP shares closed 35c stronger at $22.85.
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https://www.theadvertiser.com.au/common/story_page/0,4511,2021575%255E913,00.html
Anderson to unlock war chest
By CHRIS MILNE
21may01
BHP is on the hunt for new assets after gaining shareholder approval for its $57 billion merger with British-based Billiton Plc.
The BHP-Billiton combine could now focus on other matters, after successfully steering through the merger, BHP chief executive Paul Anderson said yesterday.
Mr Anderson declined to specify targets.
"Now that we've got through the shareholder approval we can start to broaden our thinking again," he said.
"The sky's the limit but I'm not going to respond to anything specific."
Any potential acquisition moves had been delayed while the two companies pushed through the merger proposal, against some institutional opposition to the terms. But 88 per cent of shareholders voted in favour at the meeting in Melbourne on Friday.
"We had a pending shareholder meeting and the last thing you want to do is have a conversation with somebody or take a positive step that suddenly causes you to have to issue press releases or revise the shareholder circular," Mr Anderson said.
BHP is expected to put forward a proposal to Woodside Petroleum after the Federal Government last month rejected the proposed $10 billion takeover by Shell. The two companies had held talks during the takeover battle.
"There's always room on the table for something else," Mr Anderson said.
Analysts have tipped WMC as another target for BHP-Billiton. WMC's share price has ridden high on takeover speculation, although it slipped back 25c to $9.61 on Friday. BHP and Billiton face two final hurdles in completing their merger – approvals from the Foreign Investment Review Board in Australia and from the European commission competition authority.
Mr Anderson told Channel 9's Business Sunday program he did not foresee problems, as there was little overlap in the activities of the two companies.
However, some conditions might be imposed on the companies, he said.
Meanwhile, BHP and Billiton would focus on the integration of the two businesses, getting the new organisation bedded down and relieving any anxiety among employees.