Commodities
South African Unions Urge Anglo Holders To Reject BHP Bid
- Cosatu says BHP bid is not in South Africa’s national interest
- South Africa’s PIC is among Anglo’s largest shareholders
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South Africa’s biggest labor union federation urged local shareholders, including the powerful Public Investment Corp., to oppose BHP Group Ltd.’s bid to buy Anglo American Plc.
The Congress of South African Trade Unions, which includes the National Union of Mineworkers among its members, said a deal wouldn’t be in the national interest. South African shareholders hold about 26% of Anglo, with the PIC owning 8.4%, according to data compiled by Bloomberg.