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Anglo American (Baa2/BBB): Rejects BHP

BASIC INDUSTRIES

• As we noted yesterday, the implied premium of 13% was modest. Unsurprisingly, Anglo view this as undervaluing the company describing the approach as “opportunistic”.

• They also state that the structure is unattractive.

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• As we noted yesterday, the implied premium of 13% was modest. Unsurprisingly, Anglo view this as undervaluing the company describing the approach as “opportunistic”.

• They also state that the structure is unattractive.

Keep reading...Show less