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Anglo American’s key South African shareholders are open to a takeover offer from the world’s No. 1 miner BHP Group , the Financial Times reported on Thursday.
The investors who collectively hold more than 15% of Anglo American, told FT that BHP would need to sweeten its offer and they were not opposed in principle to an acquisition by the Australian group.The proposal is also seen as complicated as it requires Anglo to divest its South African assets as part of the deal.
The South African government has been scrutinizing the proposed deal. The country’s mining minister, Gwede Mantashe, has previously told the press that he was wary of BHP’s proposal as the country’s previous experience with BHP was “not positive”.Savannah could request compulsory land acquisitions for Portuguese lithium projectSteelmakers have raised concerns with Australian authorities that BHP could become too dominant in the global supply of coking coal.
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