Reported 4 months ago
BHP Group investors were relieved as the top global miner decided to walk away from a $49 billion takeover deal with Anglo American after three rejected offers. The negotiations ended after Anglo refused to grant an extension for BHP to finalize the deal, which involved spinning off its South African assets. Shareholders had advised against overpaying for control over Anglo, and while BHP's Australian-listed shares fell slightly, they were in line with industry peers. BHP now faces the challenge of seeking growth opportunities in its own assets, like Pilbara iron ore and copper in Australia and Chile, as it waits six months before considering approaching Anglo again under British corporate laws.
Source: YAHOO