Reported 5 months ago
BlackRock, a key shareholder in Anglo American, reportedly encouraged the company to continue discussions with BHP Group regarding a proposed 38.6 billion pound mining merger, along with support from other significant shareholders like Ninety One and Sanlam Investments. BHP now has until May 29 to make a firm bid for Anglo American. BlackRock, holding a 9.6% stake in Anglo, is also a shareholder in BHP. BHP is expected to focus on addressing Anglo's concerns about execution risks in their proposal. However, there are differing opinions on the deal's structure, with Anglo potentially seeking alterations or a higher payout from BHP. Responses from Anglo American, BHP Group, and BlackRock regarding the situation were not provided.
Source: YAHOO