Anglo Won’t Extend BHP Deadline, Threatening $49 Billion Bid
- BHP has until 5 pm on Wednesday to commit to an offer
- Larger miner earlier published last-minute plea for extension
This article is for subscribers only.
Anglo American Plc said it won’t give BHP Group any further time to commit to a takeover offer, threatening to end a $49 billion pursuit by the world’s biggest mining company.
The decision sets up a dramatic climax to the five-week battle between two of mining’s biggest names, just hours before a 5 p.m. deadline. Anglo has repeatedly rebuffed proposals from BHP to partly break up and then acquire the 107-year-old company, but last week agreed to a one-week extension to a UK deadline in order to extend talks. BHP must now decide whether to make a firm offer without the support of Anglo’s board in the coming hours, or walk away for six months.