Mining giant BHP has launched a non-binding takeover bid for the $56 billion British resources company Anglo American, says Sky News business reporter Edward Boyd.
The company is the world’s largest producer of platinum, also producing coal, iron ore, diamonds, copper and nickel.
“The offer price has not been disclosed, but Anglo American say the deal would proceed by a demerger of its African iron ore assets and its platinum business – which would remain in the hands of Anglo American shareholders,” Mr Boyd said.
BHP launches takeover bid for Anglo American
“These demergers, and the potential sale of the remaining assets to BHP, would require regulatory approval.
“Anglo American’s board is currently reviewing the proposal. BHP has not commented on the deal, however, Anglo Americans have told BHP they have until May 22 to make a formal offer.”
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