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British mining giant Anglo American on Friday rejected a blockbuster $38.8-billion takeover bid from Australian rival BHP, slamming it as "highly unattractive" and "opportunistic".
All-share proposal had potential to be one of biggest deals in sector for decade but deemed ‘opportunistic’
Anglo American rejects BHP's unsolicited offer as significantly undervaluing the company. Chairman Stuart Chambers emphasizes the company's strong prospects.
The possible takeover of Anglo American by BHP is seen by analysts as having limited impact on dry bulk shipping.
The world’s largest mining company now has until 22 May 2024 to declare its firm intentions towards Anglo and its tasty copper holdings.