316p Agreed merger effected via a dual listed structure whereby there will be a bonus issue of 1.0651 additional BHP shares for each BHP share held. Existing Billiton shares will have an economic interest equivalent to 0.4842 existing BHP shares. Alcan has denied it is in talks with Billiton regarding a counter offer. Shareholders have approved the merger, but discussions with the Canadian regulators are dragging on and completion has been postponed by at least 30 days. The exact ratio of Shire shares used is based on closing prices for the fifteen days leading up to three days before deal completion.
Discussions are at a preliminary stage.
482p Lafarge comes back with an increased agreed deal, further to its failed hostile bid last May via a scheme of arrangement. Shareholders have approved the scheme. The EU gave regulatory clearance on 02-03. A second interim dividend of 11.65p was paid on 28-03. Awaiting US regulatory clearance.