Deals
Anglo Rejects BHP Takeover Bid as Significantly Undervalued
- BHP proposal is ‘opportunistic,’ Anglo Chairman Chambers says
- Anglo tie-up would give BHP about 10% of copper mine supply
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Anglo American Plc has rejected a $39 billion takeover proposal from BHP Group, saying it significantly undervalues the company.
Under the proposed all-share deal, Anglo would first spin off controlling stakes in South African platinum and iron ore companies to its shareholders before being acquired by BHP. The total per-share value of the non-binding proposal was about £25.08, BHP said Thursday.