Loading prices...

Register/Sign in
ScrapMonster
Mining News May 30, 2024 08:40:45 PM

BHP Pulled Out of Takeover of Anglo American

Paul Ploumis
ScrapMonster Author
Unless there is another offer, BHP cannot return for at least a period of six months, according to UK rules, sources said.

BHP Pulled Out of Takeover of Anglo American

SEATTLE (Scrap Monster): Mining giant BHP Group has reportedly pulled out of its planned takeover of Anglo American plc.following multiple rejections of its bids submitted to Anglo American.

BHP announced that it would not be making a firm offer for Anglo American, after the latter refused to consider a request by it to extend takeover talks. The one-week extension to the original deadline of 22nd May, 2024 to submit a binding offer had come to an end at 1600 GMT Wednesday. It must be noted that Anglo American had rejected all the three takeover proposal by BHP. Unless there is another offer, BHP cannot return for at least a period of six months, according to UK rules, sources said.

RELATED NEWS:

Anglo American Rejected Third Takeover Bid by BHP

BHP-Anglo american Deal Raises Alarm in Japan's Steel Industry

Commenting on the development, BHP, in a statement, said that it believe that the proposal was a compelling opportunity to ensure effective growth of value of shareholders of both the companies. The company was unable to reach an agreement on its specific views in respect of South African regulatory risk and cost, it added.

Following BHP’s statement, Anglo American reiterated that it is fully focused on plans aimed at increasing the value to shareholders. Also, it outlined a plan to divest less profitable assets and focus on expanding its copper asset portfolio.

How to Recycle

How to Dispose of Lithium Batteries

How to Dispose of Lithium Batteries

Proper care should be taken regarding the battery disposal. Read this post to get an idea on how to dispose of lithium batteries.
How to Dispose of a Couch

How to Dispose of a Couch

In this article, we will discuss some straightforward methods on how to dispose of a couch safely. Let’s check out the different options.
How to Dispose Of Concrete

How to Dispose Of Concrete

Learn the right methods to dispose of concrete, minimize environmental impact and promote sustainability through recycling centers or other options.
powered by RecyclingMonster
×

Quick Search

Advanced Search