Miner Anglo American rejects third takeover offer from rival BHP Group as talks deadline extended
Publishing timestamp: 2024-05-22 12:05:32
Summary
Anglo American rejected a third takeover proposal from BHP Group, citing that it does not meet the expectations of value for its shareholders. The companies have agreed to extend talks deadline by one week. BHP's previous offers included demands for Anglo to unbundle its platinum and iron ore assets in South Africa, a process deemed too risky and complex by Anglo. Shares of Anglo rose briefly after the announcement, while BHP shares fell. The potential merger would create a behemoth in the copper mining industry.
Sentiment: NEUTRAL
Keywords: bhp group ltd, anglo american plc, business news,
Source: https://www.cnbc.com/2024/05/22/anglo-american-rejects-third-takeover-bid-from-rival-bhp-group-.html