Sun. Jul 14th, 2024

BHP will not make a final offer for Anglo American

By Vaseline May30,2024

Published by Will Owen, editor

Global Mining Review,

The Anglo American Board of Directors has noted the recent announcement from BHP Group Ltd confirming that it does not intend to make an offer for Anglo American.

As a result, BHP is subject to the restrictions set out in Rule 2.8 of the Takeover Code.

Stuart Chambers, chairman of Anglo American, commented:

“Anglo American has set a clear path to accelerate the execution of its strategy and unlock significant value for its shareholders. Our shareholders will benefit from value transparency and undiluted exposure to a simpler portfolio of world-class assets, continued stronger operating performance and highly attractive growth in copper, premium iron ore and crop nutrients. Anglo American’s management team, supported by its Board of Directors, is fully focused on delivering on the plans it has set out to accelerate the delivery of value, at a rapid pace.

“I thank Anglo American shareholders and stakeholders for their constructive dialogue during this period, and our employees for their resilience and commitment. We look forward to executing our plans for the benefit of our shareholders and stakeholders, both in our host countries and more broadly.”

This news follows Anglo American’s refusal to grant a further extension of the PUSU deadline.

Read the article online at:

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