German steelmakers urged Brussels on Tuesday to block miner BHP Billiton's (BHP.AX) (BLT.L) planned takeover of rival Rio Tinto (RIO.AX) (RIO.L) that would create a $350 billion-plus industry giant.
"This merger between the iron ore market's world number two and three would further raise the pressure on iron ore prices. It would limit the steel industry's access to the raw material," German Steel Federation President Dieter Ameling said....MORE
From the Scotsman:
BHP faces backlash from steel giants over bid for Rio Tinto
The hostile bid by chief executive officer Marius Kloppers has wiped out $32bn of market value at Melbourne-based BHP in two weeks, while angering customers including Posco, Korea's biggest steelmaker, and JFE Steel, ranked third worldwide.