Anglo American releases statement regarding possible offer from BHP

The proposal comprises an all-share offer for Anglo American by BHP and would be preceded by separate demergers by Anglo American of its entire shareholdings in Anglo American Platinum Ltd and Kumba Iron Ore Limited to Anglo American shareholders. The two parts of the proposal would be inter-conditional.

The Board is currently reviewing this proposal with its advisers.

There can be no certainty that any offer will be made nor as to the terms on which any such offer might be made.

Under Rule 2.6(a) of the Code, BHP must by not later than 17:00 on 22 May 2024, either announce a firm intention to make an offer for Anglo American in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.

As a consequence of this announcement, an ‘offer period’ has commenced in respect of the company in accordance with the rules of the Code.

Read the article online at: https://www.globalminingreview.com/mining/25042024/anglo-american-releases-statement-regarding-possible-offer-from-bhp/