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Anglo American Rejects Request To Extend Offer Deadline On BHP Deal

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  • Anglo American's Board rejects BHP's request for an extended deadline.
  • The Board highlighted the deal’s complex structure and risks, requiring multiple regulatory approvals that could diminish value for Anglo shareholders.
  • BHP's socioeconomic measures to support regulatory approvals were deemed insufficient. Concerns remain over prolonged execution risks and value delivery uncertainty.
  • Given BHP's choice to not amend the proposal structure, Anglo American’s Board decided against extending the PUSU deadline beyond 17:00 London Time for BHP to either submit a firm intention to make an offer or not.

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