Anglo American has rebuffed a third takeover attempt by Australia’s BHP after it sweetened its offer in an attempt to create a global mining titan.
The FTSE 100 miner had already rejected two previous offers from BHP: the first, in April, valued it at £31bn and the second, After the two previous rejections, BHP said it had been “engaging with Anglo American and its advisers” to allay concerns over the deal and that it was “hopeful that resolution will be reached in the next seven days”.
“BHP’s revised proposal will offer immediate value for Anglo American shareholders and allow them to benefit from the long-term value generation of the combined group.”BHP’s terms require that Anglo sells its stakes in Anglo American Platinum and Kumba Iron Ore, returning cash to shareholders, as part of the deal.
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