BHP proposal 'dead in the water'

SYDNEY: Rio Tinto CEO Tom Albanese said on Friday that BHP Billiton’s $140-billion takeover proposal to assemble super mining house was now “dead in the water.”

Albanese also said Rio had been approached with offers from other suitors since BHP tabled its plans last month, but was sticking with its independent growth strategy.

In a television interview, he gave the impression that Rio was not for sale at any price.