Anglo American has rejected a revised £34 billion ($42.7 billion) takeover bid from BHP Group, stating that the offer significantly undervalues the company. This is the second time Anglo American has turned down a proposal from BHP, which had initially offered $39 billion. The revised bid included a 15% premium over the initial offer. In response to the takeover attempts, Anglo American has announced a major restructuring plan. The company plans to exit its De Beers diamond business, as well as its platinum and coal mining operations, in a bid to focus on copper and other energy transition metals. Anglo American's CEO stated that the restructuring was accelerated by BHP's takeover bid and aims to unlock value for investors. The rejection sets the stage for a potential hostile takeover battle, with Anglo American citing significant execution risks in BHP's proposal.
Breakingviews - Anglo breakup gives investors a free option on M&A https://t.co/E3cAfqg7hj https://t.co/E3cAfqg7hj
BHP's CEO says it is now up to shareholders to choose between its R780-billion takeover bid, or Anglo American's newly released restructuring plan – both of which are claiming the ability to unlock immense value for investors. | @News24_Business https://t.co/SxafGGtjG2
Anglo's move to ditch its iconic De Beers diamond business is sparking worries about the future of the troubled industry https://t.co/jqDFvfsBRx
What does the bid mean for the capital cycle in copper? "BHP’s bids for Anglo revealed its preference to buy, not build, in copper ... By breaking up .. and focusing on the copper business, Anglo clearly agrees with BHP on the longevity and amplitude of the copper capital cycle" https://t.co/mcYJk72XSd https://t.co/bymTt8NEaF
Anglo American's boss said a takeover bid by rival BHP had forced him to accelerate plans for a spin-off of the company's South African platinum assets, which also raises the prospect of more job losses in South Africa's mining sector https://t.co/LIX1BObg20 https://t.co/kbG7hKbcWi
Anglo American laid out plans to refocus on energy transition metal copper while spinning out or selling its less profitable coal, nickel, diamond and platinum businesses, as it moves to fend off BHP Group's $43 billion takeover offer. Read more here: https://t.co/jpZsnlz3lH https://t.co/ZmjD3dW0Qj
Anglo to exit diamonds and platinum in bid to fend off BHP - Bloomberg
Anglo to exit diamonds and platinum in bid to fend off BHP https://t.co/E42kfGzCnJ
European stocks are hitting all time highs but US investors could care less bc US is even better. It's really an embarrassment of riches for equity investors rn. Imp to enjoy it while it lasts.. via @psarofagis https://t.co/ywtji5hQVm
Exclusive: Anglo American explores De Beers IPO as part of break-up, sources say https://t.co/hWiMnejchM https://t.co/b03iTXqVIL
COLUMN: In trying to mount a defense against takeover interest, Anglo American has also given its much larger mining rival BHP Group a blueprint on how to launch a successful bid. #mining $BHP $AAL | @Opinion https://t.co/DGKH2farMF
FTSE 100 mining giant Anglo American has revealed plans to break itself up, hours after it rejected a takeover bid from a larger rival. 🔗 Read more https://t.co/G21fdoy58i
⚠️ BHP CHIEF URGES ANGLO INVESTORS TO CONSIDER TAKEOVER BENEFITS Full Story → https://t.co/VTdKQuQrzl https://t.co/tl5Yo2M3iB
Breakingviews - Anglo breakup gives investors a free option on M&A https://t.co/Q9D7VCRJZ9 https://t.co/Q9D7VCRJZ9
WATCH: Anglo American has rejected an improved takeover offer from BHP valued at around $42.7 billion. It had earlier rebuffed the rival miner’s initial $39 billion all-share proposal https://t.co/eNFZbERjw9 https://t.co/suRJXK46Gz
Anglo ditches diamonds for copper in radical overhaul to fend off rival BHP https://t.co/NyFp67cskf https://t.co/NyFp67cskf https://t.co/1xFrAatbel
From Breakingviews - Breakingviews - Anglo breakup gives investors a free option on M&A https://t.co/4VNx5nIIcE https://t.co/4VNx5nIIcE
Anglo breakup gives investors a free option on M&A - https://t.co/X1BN8t2T1u - @KarenKKwok https://t.co/jbUaGMDNEq
⚠️ EXCLUSIVE-ANGLO AMERICAN EXPLORES DE BEERS IPO AS PART OF BREAK-UP, SOURCES SAY Full Story → https://t.co/6MMbBIqy3S Anglo American is exploring an initial public offering of its diamond business De Beers, two people familiar with the matter told Reuters on Tuesday, with… https://t.co/D6barGCmFQ
Anglo American has rejected an improved takeover offer from BHP valued at around $42.7 billion. It had earlier rebuffed the rival miner’s initial $39 billion all-share proposal https://t.co/osl5S4tzFS https://t.co/ORYLFDmosA
Anglo Goes Bold: Unveils Breakup Plan To Transform Into Copper Giant Amid BHP Takeover Battle https://t.co/a00OVDrLmU
Two takeover proposals from mining giant BHP forced Anglo American to launch a radical restructuring plan just two weeks ahead of general elections in South Africa – the timing of which it regrets as disrespectful to the government. | @News24_Business https://t.co/0lZu4mJ9NB
Anglo American eyes potential breakup as it tries to fend off BHP takeover bid https://t.co/V0Q87BgR9I
Anglo American eyes breakup as it fends off BHP bid https://t.co/6OmnL8Z1e5
Anglo American needs a speedy break-up to make up with investors https://t.co/yAHi33W2FH
WATCH: Anglo American rejected a raised takeover offer of around $42.7 billion from BHP, saying the world's largest listed miner 'continues to significantly undervalue' the company https://t.co/eNFZbERjw9 https://t.co/mPiYZaIGgn
Anglo American to sell De Beers in break-up plan to avoid BHP takeover https://t.co/Z6BiKMNc6U
Anglo American proposes portfolio changes after rejecting BHP's second bid https://t.co/6lSizDnnR7 https://t.co/TgsEEK0Bnh
Diamond giant De Beers faces spin-off amid wider restructuring as Anglo American takeover pressure mounts https://t.co/Df5BWiKPmx
UK mining giant Anglo American unveils break-up plan https://t.co/M98ITlZh9L
Anglo To Exit Diamonds and Platinum in Bid To Fend Off BHP Miner to sell or demerge iconic De Beers diamond business Anglo refocusing on copper, iron ore, plus fertilizer project https://t.co/lrXfjUcEWd
Anglo American rejected a raised takeover offer of around $42.7 billion from BHP, saying the world's largest listed miner 'continues to significantly undervalue' the company https://t.co/osl5S4t1Qk https://t.co/8rSxWv2vbF
Anglo plans to exit diamond, platinum, and coal mining as it seeks to fight off a takeover from BHP https://t.co/jq5S8JToA4
Anglo American laid out a strategic review that includes a potential break-up of the company by demerging or selling its steelmaking coal, nickel, diamonds and platinum businesses as it tries to fend off a takeover bid from the world's largest miner BHP https://t.co/0xzZkG0r5R
Anglo American to split group after rejecting BHP bid https://t.co/ZEnmpQjgNu
Anglo American to exit diamond, platinum and coal mining as it fights BHP bid https://t.co/H0COgw7s9t
Anglo American eyes break-up, steelmaking coal, nickel, diamonds offloads https://t.co/HzNfnr1RTG https://t.co/9Y4RYcwJYP
Anglo American Plans to Split Up Units After Rejecting $43 Billion BHP Bid https://t.co/ibB9409O0L
Anglo American plans to exit its De Beers diamond business, platinum and coal mining as it seeks to fight off BHP's takeover bid https://t.co/DgpdmiCKdC
Anglo American is chucking De Beers diamonds and platinum as it fights a takeover offer by *the mining T-Rex that is* BHP https://t.co/3l00zbtY19
Breaking news: The company plans to split off its De Beers diamond business, Anglo American Platinum operation and steelmaking coal assets https://t.co/KqndBjypT5 https://t.co/1xytGbAGFI
Anglo American to break itself up after rejecting BHP bid https://t.co/155lVp9OXv
$AAL | Anglo American To Break Itself Up After Rejecting BHP Bid - FT https://t.co/dbT0nKtemV
Anglo American plans to exit diamond, platinum, and coal mining in one of the biggest shake-ups in the company’s 107-year history https://t.co/fa712IfVP2
📽️ WATCH - INVESTORS EXPECT BHP TO LIFT ANGLO AMERICAN OFFER AGAIN Anglo American rejected a raised takeover offer of 34 billion pounds ($42.67 billion) from BHP Group on Monday (May 13), saying the world's largest listed miner "continues to significantly undervalue" the… https://t.co/k4nbw7wYcP
BREAKING: Mining firm Anglo American announces a major shake-up of its portfolio: Anglo plans to divest or demerge its De Beers diamond unit, plus platinum, met coal, and nickel. Importantly, Anglo will all but stop investing in its Woodsmith fertilizer mine in 2025 and 2026 https://t.co/QHZkdqMdRd
British miner Anglo American PLC said Monday that it has rejected a revised £34 billion ($42.7 billion) takeover bid by Australian heavyweight rival BHP Group Ltd., saying that the increased offer "significantly undervalues" the company. https://t.co/KQbcLRE4TE
Investors expect BHP to lift Anglo American offer again https://t.co/LVvNVLjel3 https://t.co/HDzgYFeka8
Anglo American rebuffed a sweetened approach from BHP Group that values it at about £34 billion ($43 billion). @Paul_VLH reports https://t.co/uvrxRQ3TLk https://t.co/PuU6MceHTP
Anglo American has rebuffed a sweetened buyout from BHP that would have delivered a 15 per cent premium from the Australian giant’s initial offer, with the London-headquartered miner dismissing the new approach as “undervaluing” its prospects. Read more: https://t.co/ckHqkI6XwT https://t.co/xGBcIdj6xX
COLUMN: Mining group Anglo American, which has twice rejected takeover interest from rival BHP, will announce its “standalone strategy”tomorrow (May 14) at 7am London time. Below is my take on what Anglo should focus on. @opinion #AAL https://t.co/QIFvyJUF4P via @opinion
Anglo American has once again rejected BHP's offer. We think this is good news. Both our holdings in AAL and BHP are in good profit but we do not see BHP's continued offering being a good one even if it sweetens the deal: https://t.co/Q9k93VLNFe https://t.co/xCJBbiaFnj
Anglo American rejects new £34bn offer from mining rival BHP https://t.co/v5LMbec9dK
BHP’s raised bid for Anglo American is no knock-out blow, and is still missing the point. Read it here 👇 https://t.co/lwYgh0axbL
BHP-Anglo impasse more about structure than price - https://t.co/nr8set4nCR - @KarenKKwok https://t.co/6WGktFblzV
Rejection of BHP’s second bid for Anglo American is unsurprising https://t.co/2SrIZmsxPP
Anglo Rejects BHP Again as Pressure Builds on Its Own Strategy World’s biggest miner improved its proposal for Anglo by 15% Anglo will lay out plans for its business to investors Tuesday https://t.co/2LWZdMPvzI
BHP can’t pay enough to force Anglo to do the heavy lifting https://t.co/QpOIQLzGDa | opinion
Anglo Rejects BHP Again as Pressure Builds on Its Own Strategy - Bloomberg
Anglo Rejects BHP Again as Pressure Builds on Its Own Strategy-BBG https://t.co/H1vfyiFYfW
"Aside from significantly undervaluing Anglo American, the latest (BHP) proposal continues to contemplate a structure which the board believes is highly unattractive for Anglo's shareholders, given the uncertainty & complexity inherent, & significant execution risks," Anglo says
Anglo American receives a 2nd "unsolicited, non-binding and highly conditional combination proposal" from BHP - which its board again rejects as "it continues to significantly undervalue Anglo American and its future prospects."
Anglo American rejects BHP's upgraded $42.7bn takeover proposal https://t.co/AkhvMIAZYC
Anglo American shuns an improved bid from BHP https://t.co/ZwuRVhTcPF
REACTION COLUMN: Facing an activist investor and takeover attempts, storied miner Anglo American is fighting for survival. To do so, it would need to kill some of its darlings: diamonds and fertilizers. $AAL #mining | @Opinion https://t.co/8VWMoP2TND
Anglo American rejects a second approach from BHP that valued the miner at $43 billion https://t.co/ze8DWqJy9e
BHP Is Rejected Again in Bid for Anglo American. The Offer Still Isn’t Good Enough. https://t.co/xJk42TWl2Q
Miner BHP says Anglo American rejected revised $42.7bn offer https://t.co/ZkN7waB92P
Miner BHP says Anglo American rejected $42.7bn offer https://t.co/TolsIIQCjL
Anglo American has rejected a new and improved takeover proposal from BHP, the mining giant has confirmed. | @News24_Business https://t.co/MF1R5XOFPb
Just in: Anglo American has rejected a revised takeover proposal from rival BHP that values it at £34bn, setting the stage for a potential hostile takeover battle between two titans of the global mining industry https://t.co/iIN5shZiPH https://t.co/2MMYpuhLPS
Just in: Anglo American has rejected a revised takeover proposal from rival BHP that values it at £34bn, setting the stage for a potential hostile takeover battle between two titans of the global mining industry. https://t.co/iIN5shZiPH https://t.co/oqt3e5d4w6
#BREAKING BHP says Anglo American rejects revised takeover bid https://t.co/gifZ4CFcfI
Anglo American rejects revised offer from BHP - https://t.co/HXPkoV0gSs
BHP says Anglo American rejected $42.7 billion revised proposal https://t.co/hlCDoIyVCV https://t.co/SFgwJT0491
BREAKING: Anglo American has rejected a second takeover bid from much larger rival BHP Group. The offer valued $AAL at £34 billion ($43 billion) -- about 15% higher than its 1st offer | #mining #copper $BHP https://t.co/pbIrxVfeG4
BHP Gets Fresh Rejection From Anglo American for Improved Bid https://t.co/3hZfPanbUc
BHP says Anglo American rejected an improved offer it made, valuing the company at £34 billion https://t.co/QhXtDhukVE
Anglo American rejects revised offer from BHP https://t.co/FpcJirtk6h
⚠️ BHP SAYS ANGLO AMERICAN REJECTED REVISED PROPOSAL Full Story → https://t.co/dCiLivofSp BHP Group said on Monday that Anglo American had rejected a revised buyout offer. https://t.co/0z37MMcDF6
$BHP (+0.0% pre) Anglo American Rejected BHP's Revised GBP 34B Bid - Bloomberg https://t.co/0Mtva5XsNS
Anglo Investors Tell Company to Move Faster to Survive BHP Bid Shareholders want to know if turnaround plan beats selling Miner may unveil new strategy at Bank of America conference https://t.co/Vbsr0sN391