BHP said it is ‘disappointed that the Anglo American Board has chosen not to engage with BHP with respect to the Revised Proposal and the improved terms’
BHP Group said on Monday that Anglo American had rejected a revised buyout offer valuing the company at £34-billion .
The new offer is 10 per cent higher than BHP’s first one, or a 15 per cent increase in the merger exchange ratio, lifting Anglo American shareholders’ aggregate ownership in the combined group to 16.6 per cent from 14.8 per cent in the earlier proposal, it said.“We are disappointed that this second proposal has been rejected,” BHP’s CEO Mike Henry said in a statement.
Anglo is attractive to its competitors for its prized copper assets in Chile and Peru. The metal is used in everything from electric vehicles and power grids to construction, and demand for it is expected to rise as the world moves to cleaner energy and wider use of AI.
Anglo Bhp Proposal Statement World Miner Offer BHP Peru Chile
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