Anglo American rejects BHP’s unattractive, opportunistic $39bn takeover bid

Anglo American rejects BHP’s unattractive, opportunistic $39bn takeover bid

Anglo American's management has rejected BHP Group's $39 billion takeover bid.
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Anglo American's management has rejected BHP Group's $39 billion takeover bid as unattractive, citing complexities in the proposed demerger of its South African assets. Despite BHP's 31% premium offer, analysts doubt its sufficiency, suggesting potential interest from other mining giants like Rio Tinto and Glencore. As Anglo explores alternatives, including seeking partners for its De Beers diamond business, the industry anticipates potential counteroffers before BHP's May 22 deadline.

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SOURCE: REUTERS

By Clara Denina, Amy-Jo Crowley and Anousha Sakoui

LONDON, April 25 (Reuters) – Anglo American's management does not consider a proposed $39 billion takeover offer from BHP Group as attractive, two sources told Reuters, as some investors and analysts dismissed it as opportunistic.

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