September 2007 – Market speculation that BHP Billiton may bid for Rio Tinto after Rio completes acquisition of Alcan.

November 8, 2007 – BHP confirms its interest and proposes share swap deal worth $140 million. Rio shares soar as it rejects the deal saying it undervalues its prospects.

November 12, 2007 – BHP promises to hand $30 billion back to shareholders via a share buyback if the deal goes ahead. Rio talk down the bid.

November 2007 – Steel industry around the world voices concerns about the deal.

November 26, 2007 – Rio says it does not need BHP’s offer as it unveils plans to double iron ore output by 2018, raise its dividend and generate at least $15 billion from asset sales.

December 7, 2007 – Rio says it has had offers from other suitors but that it is sticking with its own growth plans.

December 11, 2007 – Rio asks the UK’s Takeover Panel to set up a put up or shut up deadline for BHP to make a formal offer or walk away. Takeover Panel later imposes February 6 deadline.

January 25, 2008 – Rio chief executive reiterates that the BHP bid is too low.

February 1 – Aluminium Corp of China and Alcoa say they’ve bought a 9 per cent stake in Rio but don’t currently intend to make an offer.

February 6 – Rio rejects sweetened $147.4 billion takeover bid.

May 30 - BHP formally files its bid for Rio with the European Commission for clearance. The regulator sets a July 4 deadline for consideration of deal.

July 4 - European Commission opens in-depth investigation into the deal, issuing a tough statement that lists sweeping concerns. Later sets a January 15 deadline for its review.

October 1 - Australia’s regulator clears BHP’s takeover offer with no conditions. The next day Rio says market turmoil has no impact on its rejection of BHP’s offer.

November 4 - BHP says it has received a statement of objections from European regulators on Rio offer.

November 25 - BHP says it is dropping bid.

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