Australian company says FTSE 100-listed group’s board did not engage with its all-share approach
BHP proposed that Anglo American sell its stake in Kumba Iron Ore in South Africa, the world’s largest iron ore mine.BHP proposed that Anglo American sell its stake in Kumba Iron Ore in South Africa, the world’s largest iron ore mine.Anglo American has rejected a second takeover approach by its Australian rival BHP that values the London-listed mining company at £34bn.
The offer will increase pressure on Anglo American’s boss, Duncan Wanblad, to reveal plans to improve Anglo American’s performance and persuade shareholders that the company would be better off staying independent. Anglo said it would provide a detailed investor update of its “standalone strategy” on Tuesday.
Anglo said the requirement from BHP to demerge the two businesses as part of a deal was “highly unattractive for Anglo American’s shareholders, given the uncertainty and complexity inherent, and significant execution risks”.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BHP-Anglo American deal: BHP’s bid for Anglo casts cloud over $9b Woodsmith fertiliser mineBHP’s takeover proposal of rival Anglo American is throwing uncertainty over the future for Anglo’s massive fertiliser mine in England.
Read more »
BHP-Anglo takeover: Anglo American’s predictable bid rejection won’t end BHP’s ambitionsBHP won’t be put off the scent by Anglo American’s rejection of its $60 billion takeover. There’s too much at stake.
Read more »
BHP-Anglo American deal: Paul Singer’s Elliott Investment Management builds $1b Anglo American stakeThe hedge fund led by Paul Singer has built a billion dollar stake in BHP target Anglo American, placing it among its 10 biggest shareholders.
Read more »
BHP Anglo American takeover: Anglo’s stumbles made it quarry for mining’s biggest predatorAnglo American once held pride of place on the sharemarket. Now its reputation is in tatters. And for BHP, the crisis at Anglo has come at the perfect time.
Read more »
BHP ASX AAL LON: BHP lobs takeover bid for $56b Anglo AmericanThe BHP all-scrip offer values Anglo American at £31.1 billion ($59.6 billion) with Anglo American investors to receive 0.7097 of BHP stock for each share.
Read more »
BHP ASX: BHP’s Anglo bid will turn into a ‘complete mess’: Angus AitkenThe prominent stockbroker has told his clients the strategy to buy the whole company to just get its copper and coal mines “seems crazy to us”.
Read more »