2024-04-30 05:26:49
The company’s president, Stuart Chambers, recommended that its shareholders not take any action regarding the proposal.
Unanimously, Anglo American board rejects takeover offer made by the Australian company BHPafter considering that the proposal “significantly underestimates” the company and its future prospects.
This was revealed by the United Kingdom mining company, after the world’s largest company in the sector presented it with a proposal on Thursday. merger offer through a share exchange “non-binding and highly conditional”.
According to the details of the proposal, In it, the British company was valued at around 36,191 million euros.
“Unattractive” offer
In its response to BHP, Anglo American said that In addition to underestimating his company, the offer contemplated an “unattractive” structure for the company’s shareholders.. That, given the uncertainty and complexity that the proposal entails and the significant execution risks.
Similarly, the president of Anglo American, Stuart Chambers, recommended that his shareholders not take any action, while confirming that the company “is well positioned to create significant value from its portfolio of high-quality assets, which are well aligned with the energy transition and other important demand trends“.
According to what was revealed, the law in the United Kingdom establishes that, By May 22, BHP must confirm its intention to make a formal bid for Anglo American, or announce that it will not do so..