top of page
S K Seth Jewelelrs.png

Anglo American rejects BHP’s third takeover proposal



Anglo American has rejected a third £38.6bn ($49.1bn) takeover proposal from Australian resources firm BHP, although it gave it until 29 May to make a firm offer.


BHP's latest offer represents a total value of around £31.11 per Anglo American ordinary share, including £5.40 in Anglo Platinum shares and £4.23 in Kumba shares, BHP said on 22 May. The takeover proposal also came with the same requirement for Anglo American to complete two separate demergers of its entire shareholdings in Anglo American Platinum and Kumba Iron Ore, its assets in South Africa, to Anglo American shareholders.


Anglo American "continues to believe that there are serious concerns with the structure, given that it is likely to result in material completion risk and value impact that disproportionately falls on Anglo American's shareholders", its board of directors said. The complex process proposed by BHP is likely to take at least 18 months to complete and involves significant execution and completion risks, it added.


Anglo American said it remains confident in its standalone prospects and believes it had "set out a clear pathway to deliver the acceleration of its strategy detailed on 14 May 2024"




For more Updates Do follow us on Social Media

3 views

Commentaires


bottom of page