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Deadline looms for BHP in Anglo deal

Tuesday, May 21, 2024 | 890 Views |

New beginnings: De Beers' shareholding is set to change

The world’s largest mining group, BHP, has until the end of business tomorrow to make a third and final substantive offer to wholly take over Anglo American, the 85% shareholder in De Beers.

According to the Takeover Code, BHP has until 1700hrs British time to make a substantive offer to Anglo, a principle known as “put up or shut up”. The Code is governed by the Takeover Panel, a British-based independent organisation which supervises and regulates takeovers.

According to the Code, should BHP choose not to make a substantive offer, it will have to announce that it does not intend to make an offer.

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Deadline looms for BHP in Anglo deal

The world’s largest mining group, BHP, has until the end of business tomorrow to make a third and final substantive offer to wholly take over Anglo American, the 85% shareholder in De Beers.