(Bloomberg) -- Australia's S&P/ASX 200 Index climbed
to a record. BHP Billiton Ltd. and Alumina Ltd. jumped after Rio
Tinto Group's plan to buy Alcan Inc. spurred expectations of more
takeovers in the mining industry.
``It's more than likely that further consolidation will occur
in the mining sector,'' said Rob Patterson, who manages $3.2
billion at Argo Investments Ltd. in Adelaide, and holds BHP and
Rio Tinto shares. ``Rio clearly thinks it's a good idea and as a
shareholder I'm not going to pour acid on it.''
Read more at Bloomberg Stocks News
to a record. BHP Billiton Ltd. and Alumina Ltd. jumped after Rio
Tinto Group's plan to buy Alcan Inc. spurred expectations of more
takeovers in the mining industry.
``It's more than likely that further consolidation will occur
in the mining sector,'' said Rob Patterson, who manages $3.2
billion at Argo Investments Ltd. in Adelaide, and holds BHP and
Rio Tinto shares. ``Rio clearly thinks it's a good idea and as a
shareholder I'm not going to pour acid on it.''
Read more at Bloomberg Stocks News
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