Reaction pouring in following BHP rejection

paNOW staff

After being rejected by the federal government, BHP Billiton has 30 days to decide what to do now.
The buzz from market watchers is that mining giant will take no for an answer.

“The betting seems to be that BHP will walk away,” said Michael Kane, with the Business News Network.
He doesn't see BHP Billiton bending over backwards to win over the federal government.

He also said BHP shareholders may be getting weary, considering this is the third deal they haven't been able to get done.

Kane said the company is now under pressure to initiate a share-buy-back to appease its shareholders.

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Meanwhile NDP leader Jack Layton has introduced a motion in the House of Commons that would force the government to hold public hearings in its review of takeovers.

Layton said greater transparency is needed in cases like BHP Billiton's hostile takeover bid for PotashCorp.