Anglo American Rejects BHP's $39 Billion Bid
Provided by
Dow Jones
By Adria Calatayud
U.K. mining giant Anglo American rejected a $38.8 billion takeover bid from rival BHP, saying the proposal undervalues it and is unattractive for its shareholders.
Anglo American's chairman, Stuart Chambers, said Friday that the BHP proposal is opportunistic and fails to properly value the company's prospects.
The miner said late Wednesday that it had received a takeover bid from longtime rival BHP. Any deal would be the biggest in the mining industry in years.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
April 26, 2024 02:29 ET (06:29 GMT)
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