BHP fight may cost Rio $1B 'success fee'

Dec 12, 2008 | 12:31 PM |

Rio Tinto is facing a sizeable bill from advisers and lawyers for what they claim was their success in fending off BHP Billiton's $66-billion hostile takeover bid, sources said.

Rio, which said earlier this month it would have to cut jobs, expenditures and production in order to pay off debt, could be facing a "success fee" of as much as $1 billion, a source close to BHP said. Other market sources estimated the bill was in the range of $600 million to $800 million.....

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