In 20YY , Australias BHP Billiton Limiteds put a bid for Britains Rio Tinto plc. This hostile takeover attempt, if successful, would have been the third largest takeover in history. However the failure left both companies feeling bruised and battered. The merger was opposed on anti-trust grounds with the proposal that the merger would actually raise the price of iron ore and other key products. Where are the synergies, or cost savings, expected from the merger?