BHP - BHP Requests Extension Beyond 4 PM GMT Deadline to Finalize Anglo American Deal | Benzinga
On Wednesday, BHP Group (NYSE:BHP) announced it needs more time to finalize its $50 billion takeover bid for Anglo American (OTCQX:AAUKF), requesting an extension beyond today's 4 PM GMT deadline.
The Australian miner has already been granted a one-week extension from its original May 22 deadline after its third offer failed to materialize.
Per Reuters' report, BHP sent a statement to the Australian Securities Exchange (ASX), expressing the need for additional time to engage with Anglo American, citing the deal's complex structure.
The company also indicated its willingness to offer a break fee if the merger is blocked due to antitrust or regulatory reasons, stating it had quantified and managed such risks.
"Today's announcement says ...