BHP chief Mike Henry said he was “disappointed” after the sweetened bid was immediately rejected by the London-headquartered miner.
London-headquartered miner Anglo American has rejected a revised $64 billion takeover bid from BHP, escalating a global merger battle that could see the Australian resources giant gain control of a wealth of copper assets, a key commodity for the world’s energy transition.
“BHP put forward a revised proposal to the Anglo American board that we strongly believe would be a win-win for BHP and Anglo American shareholders. We are disappointed that this second proposal has been rejected,” Henry said. Anglo’s curt dismissal of BHP’s second proposal follows a similarly quick rejection of BHP’s initial offer - which valued the London headquartered company at around $60 billion -BHP said its fresh offer would increase Anglo American shareholders’ ownership of the combined post-merger group to 16.6 per cent, up from the first offer’s 14.8 per cent. BHP is proposing to give 0.8132 BHP shares for each ordinary share in Anglo American.
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