BHP Billiton (BHP) fell today after its annual general meeting (AGM) in Adelaide where it said it will aggressively continue its takeover pursuit of Rio Tinto.
BHP is offering a three-for-one share bid as part of its $400 billion merger plan.
Thus far, Rio has resisted the proposal, declaring it "way out of the ball park" and saying it has its own plans for growth.
Chief executive Marius Kloppers said at the AGM that the deal made economic sense.
"The bottom line about the proposal is that these two companies are worth more together than they are apart."
"We remain hopeful that Rio Tinto will engage with us on this important proposal which is about creating additional value for shareholders of both companies."
Mr Kloppers also said the company was expecting further significant growth.
"Looking forward, this current financial year will be very exciting in terms of the number of growth projects coming on-line."
"We are expecting a nine per cent further growth in volumes from 2007 to 2008."
Despite the company's positive spin, BHP's share price was down by as much as 2% today.
The stock fell by 65 cents cents to close at $41.30.
