U.K.-based mining giant Anglo American has rejected a 31 billion pound ($39 billion) takeover offer from BHP Group, saying it significantly undervalues the company and its growth potential. Anglo American said Friday that its board unanimously rejected the bid from BHP, which was announced a day earlier.
LONDON — U.K.-based mining giant Anglo American has rejected a 31 billion pound takeover offer from BHP Group, saying it significantly undervalues the company and its growth potential.
Anglo said in a statement to the London Stock Exchange that the BHP proposal is “opportunistic” and “fails to value” the company’s prospects. “Anglo American has defined clear strategic priorities, of operational excellence, portfolio, and growth, to deliver full value potential and is entirely focused on that delivery,” he added.5 cars from the Beijing auto show that reflect China’s vision for the future of drivingThe combination would also increase BHP’s holdings of potash, a widely used fertilizer, and coking coal used in steel production.
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