Anglo American Ends Talks with BHP Over $50 Billion Takeover Bid
Anglo American rejects BHP's request for an extension, citing complex and risky deal structure.
- Anglo American has rejected three takeover offers from BHP, the latest valuing it at $50 billion.
- BHP's proposal required Anglo to spin off two South African subsidiaries, raising regulatory concerns.
- BHP pledged investments in South Africa to gain support but failed to address Anglo's fundamental concerns.
- Anglo American plans to spin off multiple subsidiaries independently following the rejection.
- The deadline for BHP to make a formal offer or withdraw for six months is Wednesday afternoon.
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