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Market
Key shareholder response to BHP's final offer by May 29
3
Resolution / Starting Odds
Support final offer • 33%
Oppose final offer • 33%
Request further revision • 34%
Public statements from LGIM and PIC, or corporate filings.
Story
BHP Faces Critical Deadline in $43 Billion Bid for Anglo American at £29.34/Share by May 29
May 22, 2024, 01:15 PM
BHP Group is facing a critical deadline in its $43 billion pursuit of Anglo American. The mining giant has made three proposals to acquire its smaller rival, all of which have been rejected by Anglo American. The latest offer valued Anglo American at £29.34 per share, with valuations based on the 30-day and 90-day volume weighted average share prices up to and including April 23 being £29.91 and £29.67 per share, respectively. Despite the rejections, Anglo American has agreed to enter talks with BHP and has extended the deadline for formalizing a takeover offer until May 29. Key shareholders, including LGIM and PIC, have expressed the need for a meaningful revision to BHP's non-binding and highly conditional bid. This potential deal, if successful, would be the largest-ever mining acquisition in over a decade.
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Takeover Accepted • 33%
Takeover Rejected • 33%
Negotiations Extended • 34%
Offer accepted • 33%
Offer rejected • 33%
Counteroffer proposed • 34%
Bid accepted • 33%
Bid rejected • 33%
Bid revised and pending • 34%
Major shareholder support • 33%
Mixed reactions among shareholders • 34%
Major shareholder opposition • 33%
Launch a higher third bid • 33%
Initiate a hostile takeover • 33%
Withdraw from acquisition attempts • 34%
Announce support for Anglo American • 25%
Express interest in bidding for Anglo American • 25%
Remain neutral or silent • 25%
Support BHP's efforts • 25%
Successful • 33%
Unsuccessful • 33%
Pending • 34%
Successful agreement • 50%
Failed negotiations • 50%
