Anglo Rejects BHP Takeover Bid as Significantly Undervalued [Financial Post (Toronto, Ontario, Canada)]
BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares) (BHP)
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Source: Financial Post
You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Anglo American Plc has rejected a $39 billion takeover proposal from BHP Group, saying it significantly undervalues the company. Under the proposed all-share deal, Anglo would first spin off controlling stakes in South African platinum and iron ore companies to its shareholders before being acquired by BHP. The total per-share value of the non-binding proposal was about £25.08, BHP said Thursday. Article content Article content Anglo's rejection was widely expected. Analysts and some Anglo investors had seen BHP's proposal as well below the sort of price that would bring the 107-year-old miner to the table. BHP will now have to improve its offer if it wants to start talks. “The BHP proposal is opportunistic and fails to value Anglo American's prospects,” Anglo Chairman Stuart Chambers said in a statement. “The proposed structure is also highly unattractive, creating s
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- 5/2/24 - Form 6-K
- 4/29/24 - Form 6-K
- 4/25/24 - Form 6-K
- BHP's page on the SEC website