BHP - BHP Achieves One-Week Extension After Launching Unsuccessful Third Bid For Anglo American | Benzinga
BHP Group (NYSE:BHP) secured a one-week extension on its proposed takeover of Anglo American (OTCQX:AAUKF).
This development came just hours before a deadline mandated by UK takeover regulations, which would have forced BHP to either submit a formal bid or withdraw for at least six months.
BHP submitted three unsolicited, conditional proposals, each with the same caveat: Anglo American would be required to execute two complex demergers of its prized South African assets — Anglo American Platinum and Kumba Iron Ore.
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“The latest proposal does not address the board’s concerns about the complexity, execution risks, and extended timeline associated ...