Reported 4 months ago
Anglo American has rejected BHP Group's request to extend the deadline for talks on its $49 billion takeover offer. BHP now has until 5 p.m. BST Wednesday to commit to the offer or walk away for six months. The rejection has caused Anglo American's stock to drop by about 1.9%, while BHP's stock remains flat. Analysts suggest that further pressure may be on Anglo American as the probability of an acquisition is repriced, but a hostile takeover from BHP is deemed unlikely due to the deal's complexity. This development reflects the ongoing consolidation in the multinational mining sector, impacting commodities like diamonds, platinum, copper, and iron ore.
Source: YAHOO