BHP, Rio Tinto Could Raise Up to $21 Billion for M&A, BofA Says

  • Sales may hasten distress of rivals including Anglo, Fortescue
  • Miners decline in London, with BHP falling most in two months

BHP Billiton Ltd. and Rio Tinto Group, the world’s biggest mining companies, could sell as much as $21 billion of shares to help them buy assets from distressed industry rivals, said analysts at Bank of America Corp. Mining stocks slumped on Wednesday.

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