Anglo American Rebuffs BHP Takeover Bid
The board of Anglo American, the majority owner of De Beers, has unanimously agreed to turn down a $39 billion all-stock buyout offer from mining giant BHP.
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The board of Anglo American, the majority owner of De Beers, has unanimously agreed to turn down a $39 billion all-stock buyout offer from mining giant BHP.
"The BHP proposal is opportunistic and fails to value Anglo American's prospects," the board chair said.
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
Elliot Management has built approximately $1 billion stake in mining company Anglo American (AAL.L, AAUKY.PK) over recent months, according to a report by Bloomberg.
The talk of a potential mega-deal between BHP and London-listed miner Anglo American had the mining world’s attention this week, and it seems to have attracted the attention of activist investor Elliott Investment Management