Thursday, November 08, 2007

Rio Tinto ( NYSE- RTP) up over $100 on opening

Rio Tinto ( NYSE- RTP) was up over $100 - yes $100 this morning on news of a BHP Billiton (nyse: BHP) proposed buy out offer of $109 Billion

Rio Tinto plc engages in finding, mining, and processing mineral resources. Its products include aluminum; copper; diamonds; energy products, such as coal and uranium; gold; industrial minerals, including borax, titanium dioxide, salt, and talc; and iron ore. Rio Tinto operates primarily in North America, Europe, Asia, Australia, and New Zealand. The company was founded in 1873. It was formerly known as The RTZ Corporation PLC and changed its name to Rio Tinto plc in 1997. Rio Tinto is headquartered in London, the United Kingdom. Rio Tinto plc operates as a subsidiary of Rio Tinto Group.