May 29, 2024 09:42 GMT
Anglo American Rejects Request To Extend Offer Deadline On BHP Deal
CAPITAL GOODS
- 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.
Keep reading...Show less
86 words