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BHP’s latest bid on Monday, which valued the company at 34 billion pounds , stating it was “highly unattractive” for its shareholders.
“…The latest proposal continues to contemplate a structure which the board believes is highly unattractive for Anglo American’s shareholders, given the uncertainty and complexity inherent, and significant execution risks,” the London-listed miner said in a statement.A merger would grant BHP approximately 10% of global copper production, enhancing its presence in leading copper-producing nations such as Chile and Peru.
“BHP continues to believe that a combination of the two businesses would deliver significant value for all shareholders,”Since mid-2023, the company has been reviewing its business, scrutinizing every mine in its portfolio to reshape its operations. Anglo may unveil its strategy as soon as the upcoming week, coinciding with the gathering of the world’s top mining executives at Bank of America Corp.’s annual conference in Miami, according to sources familiar with the matter cited by Reuters.
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