FTSE 100 miner Anglo American has rejected rival BHP's request for extra time to table another takeover bid. Anglo has said such a move would be 'unprecedented' and would likely face regulatory opposition in South Africa and elsewhere. It added these measures would 'provide substantial risk protection for Anglo American shareholders and supplement the significant value uplift that Anglo American shareholders will receive from the potential combination'. In response, Anglo said this approach 'does not sufficiently address' its concerns about 'disproportionate execution and value risks and uncertainty over an extended period'. Anglo American shares were down 2.5 per cent to 2,494p by late afternoon on Wednesday, limiting 2024 gains to roughly 27 per cent.

Source: Daily Mail May 29, 2024 17:41 UTC