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That emboldened BHP Billiton, the world's biggest miner, to launch a takeover bid for Rio.
If he were to increase his stake to 30%, he would have to launch a takeover bid within six months.
The businessman founded Qwest in 1995 and used the company to launch a takeover of US West, one of the old "baby bells" phone companies.
Businessman Ranjit Boparan has been given less than three weeks to launch a takeover bid for Northern Foods, the firm behind Fox's Biscuits and Goodfella's pizzas.
Also in the spring, an attempt to launch a takeover of Sulzer, another quoted, family-controlled group, foundered, partly because of similar restrictions on voting rights.The doom and gloom should not be overdone.
Two weeks ago he bought a further seven shares in the club to take him within single figures of reaching the 30 per cent mark that requires him to launch a takeover bid.
Similar(33)
Though Kerkorian launched a takeover bid for Chrysler a decade ago, this time around, he says he's buying the GM stake solely for "investment purposes".
SGX, Singapore's main stock exchange, launched a takeover bid for ASX, its Australian counterpart.
See articleSpain's Gas Natural launched a takeover bid for Union Fenosa, a domestic rival.
Gianni Paladini has confirmed he is heading a consortium who have launched a takeover bid for Birmingham.
Gianni Paladini has confirmed he is heading a consortium who have launched a takeover bid for Birmingham City.
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