Deals
BHP Debates Improved Anglo Bid as Time Runs Out in Takeover Saga
- UK rules require miner to commit to offer or walk away
- Anglo board has already rejected two proposals from BHP
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With time running out on its $43 billion pursuit of Anglo American Plc, BHP Group faces a critical question: what would it take to draw the smaller company to the negotiating table within the next few days?
BHP’s plan to partially break up and then acquire Anglo has transfixed the mining industry by pitting two of its biggest names against each other in a public tussle. Anglo has already rejected two non-binding proposals from BHP — criticizing both the valuation and complexity — and instead rushed out a dramatic restructuring plan of its own.