Reported 5 months ago
Shares of Australia's BHP Group fell over 3% after Anglo American rejected its third takeover proposal and extended the bid deadline by one week. BHP now has until May 29 to make a binding offer for Anglo American, or it will face a mandatory six-month waiting period according to UK takeover rules. BHP's latest offer valued Anglo American at about $49.1 billion, contingent on Anglo unbundling its platinum and iron ore assets in South Africa. Anglo recently announced plans to divest less profitable businesses to focus on copper, with their shares closing up 0.4% in London.
Source: YAHOO