BHP Billiton continues to present new bids for its proposed take over of Rio Tinto. It has increased its original bid offer from $138 billion to 3.4 BHP shares per Rio Tinto share. According to BHP Billiton’s CEO Marius Kloppers the new offer gave a 45% premium on the fair trading value of Rio Tinto stock. The offer requires acceptance from shareholders of 50% and more stake in Rio Tinto’s publicly owned shares. BHP opines that the offer would be a major uplift for Rio Tinto shareholders that would not otherwise be available if Rio Tinto continues on a standalone basis.