Anglo American has opened the door for BHP to produce an offer compelling enough to finally clinch a takeover of the company. While Anglo on Wednesday announced it had rejected a third unsolicited takeover proposal from the world's largest miner, which valued it at close to R900 billion, it has given the group a week to engage further. In terms of UK takeover rules, BHP had until 17:00 on Wednesday to submit a firm offer of intention for Anglo. Anglo’s board did not accept a revised proposed offer, but it has granted BHP a week's extension to engage further.

Source: News 24 May 24, 2024 00:33 UTC