MARKET TALK: BHP Concedes Not Immune To Private Equity

With takeover talk surrounding Rio Tinto (RIO.AU), BHP Billiton (BHP.AU) executive Chris Lynch concedes his group is not immune from a takeover from private equity. "There's a lot of money looking for a home," Lynch was quoted as saying by AAP. "It would be dangerous to assume that it couldn't happen to you. I think you've got to be alert. There may be people working on it right now, I don't know," Lynch says. Lynch also confirms for the first time he's interested in the top job at BHP, with CEO Chip Goodyear set to depart by the end of this year. BHP up 2.4% at A$31.93 amid talk it approached Rio with a A$110 a share offer, which was rejected. RIO up 5.9% at A$95, after touching record high of A$99.69.