The Japanese government plans to ask European Union regulators to block the proposed merger between mining giants Rio Tinto and BHP Billiton, citing the possibility of anti-competitive pricing. Japan is taking the unusual step before the EU because its steel companies rely on Rio and BHP for about 60 percent of their iron ore. A Weil Gotshal partner says it's "extremely rare" for a government to request regulatory action from another country on behalf of its customers.
Japan Tries 'Extremely Rare' Move to Stop BHP Billiton-Rio Tinto Merger
The American Lawyer
October 30, 2008