BHP’s Top Australian Investor Eyes Restraint in Battle for Anglo
- Anglo rejected a second, improved proposal from BHP on Monday
- Latest approach valued the London-based target at $43 billion
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Pension giant AustralianSuper, BHP Group Ltd’s largest Australian shareholder, said capital discipline was of “utmost importance” for the mining industry as investors weigh the heavyweight’s twice-rebuffed efforts to woo smaller rival Anglo American Plc.
Luke Smith, the senior portfolio manager who oversees the fund’s Australian mining investments, declined to comment on whether or not it would support a takeover, but confirmed it had engaged “more than once” with BHP.