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Anglo American has rejected a revised provide from BHP, in response to an announcement from the bidder.
BHP mentioned its revised provide was structured in the identical means as its authentic bid however would have given Anglo shareholders an even bigger stake in BHP.
BHP chief government Mike Henry mentioned: “BHP put ahead a revised proposal to the Anglo American board that we strongly consider could be a win-win for BHP and Anglo American shareholders. We’re dissatisfied that this second proposal has been rejected.
“The revised proposal represents a 15 per cent improve within the merger alternate ratio and will increase Anglo American shareholders’ mixture possession within the mixed group to 16.6 per cent from 14.8 per cent in BHP’s first proposal.”
This can be a growing story.
