BHP will not make firm offer for Anglo American

As a result, BHP is bound by the restrictions set out in Rule 2.8 of the Takeover Code.

Stuart Chambers, Chairman of Anglo American, commented:

“Anglo American has set out a clear pathway to accelerate delivery of its strategy and to unlock significant value for its shareholders. Our shareholders will benefit from value transparency and undiluted exposure to a simpler portfolio of world class assets, consistently stronger operational performance, and highly attractive growth in copper, premium iron ore and crop nutrients. Anglo American’s management team, supported by the Board, is fully focused on delivering the plans it has set out to accelerate value delivery, and doing so at pace.

“I thank Anglo American’s shareholders and stakeholders for their constructive dialogue throughout this period, and our employees for their resilience and commitment. We look forward to delivering our plans for the benefit of our shareholders and for stakeholders, both in our host countries and more broadly.”

This news follows Anglo American’s refusal to allow a further PUSU deadline extension.

Read the article online at: https://www.globalminingreview.com/finance-business/30052024/bhp-will-not-make-firm-offer-for-anglo-american/