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'.
Celebrate Youth Month with Briefly News! Nominate a young entrepreneur under 35 with an inspiring story to be our 7th 'Young Money Maker'. Let's shine a light on their achievements together!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".
"The proposal contemplates a structure which the Board believes is highly unattractive for Anglo American's shareholders, given the uncertainty and complexity inherent in the proposal, and significant execution risks.
"Anglo American is well positioned to create significant value from its portfolio of high quality assets that are well aligned with the energy transition and other major demand trends," noted Chambers.The offer, which was pitched at £25.08 per share, caused Anglo stock to surge 16 percent in value on the London stock market on Thursday.
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