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BHP now has until May 29 at 5pm GMT time to table a binding bid for its smaller rival, which is simultaneously working on aThe latest, already rebuffed offer valued Anglo American’s shares at £29.34 based on the April 23 closing price. The figure represents a 47% premium on the stock value, BHP said.
“BHP has put forward a final offer that would provide Anglo American shareholders with 17.8% of a combined BHP and Anglo American,” chief executive Mike Henry said. “The revised proposal is underpinned by BHP’s disciplined approach to mergers and acquisition and our focus on delivering long term fundamental value,” Henry noted.
Anglo American said its board continued to have serious concerns with the structure demanded by BHP, as “it is likely to result in material completion risk and value impact that disproportionately falls on Anglo American’s shareholders,” it said.. Earlier in the day, South African state-owned asset manager the Public Investment Corporation , which is Anglo American’s second largest investor, asked the target company toAt least two companies seek Norway seabed mining permitsCopper frenzy draws mining giants to Argentina after Milei’s reforms
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