BHP has ruled out a takeover bid for Anglo American after confirming it had again sounded out its $100 billion rival about a tie-up.
“Following preliminary discussions with the board of Anglo American, BHP confirms that it is no longer considering a combination of the two companies,” BHP told the Australian Securities Exchange on Monday.
The statement followed a report by news agency Bloomberg that BHP had made a fresh takeover approach to Anglo American in recent days as the latter moved to finalise its merger with Canada’s Teck Resources.
Bloomberg said BHP, which is valued at about double Anglo American’s $US64 billion ($99b) had proposed a mix of cash and stock.
More to come.
https://thewest.com.au/business/mining/bhp-rules-out-100-billion-anglo-american-takeover-bid-after-new-talks-c-20775054
