European Union antitrust authorities objected to the proposed merger between mining giants Rio Tinto and BHP Billiton on Tuesday, saying it cannot proceed as planned. That leaves BHP's antitrust lawyers at Skadden, Arps, Slate, Meagher & Flom with the job of altering the deal to make it more palatable to authorities. U.S. and Australian antitrust authorities have already approved the deal, but experts believe BHP will have to divest itself of some assets to gain European approval.
Europe Blocks BHP Billiton-Rio Tinto Deal
The American Lawyer
November 6, 2008