LONDON, May 13 — Australian mining giant BHP revealed today that British rival Anglo American has rejected an “improved” takeover bid worth £34 billion (RM203 billion) as...
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BHP revealed today that British rival Anglo American has rejected an improved takeover bid worth £34 billion as it aims to create a copper titan. — Reuters picLONDON, May 13 — Australian mining giant BHP revealed today that British rival Anglo American has rejected an “improved” takeover bid worth £34 billion as it aims to create a copper titan.
BHP has lifted the number of shares that would be given to Anglo investors under the improved terms and it still plans to split off Anglo’s platinum and iron ore subsidiaries in South Africa, with shares split between the British firm’s shareholders.“BHP put forward a revised proposal to the Anglo American Board that we strongly believe would be a win-win for BHP and Anglo American shareholders,” said BHP chief executive Mike Henry.The new bid was pitched at approximately £27.
“The combined business would have a leading portfolio of high-quality assets in copper, potash, iron ore and metallurgical coal and BHP would bring its track record of operational excellence to maximise returns from these high-quality assets.”On the London stock market, Anglo American’s share price had sunk 0.49 per cent to £27.60 by 1430 GMT, while BHP dipped 0.35 per cent to £22.89
“With speculation over the potential involvement of another suitor, BHP will have to move swiftly and decisively if they are to strike a deal that would move shareholders to let go of Anglo.”
Anglo American Takeover Bid Copper Mining
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