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Anglo gives BHP seven days for takeover talks

Friday, May 24, 2024 | 350 Views |

Power house: De Beers is one of the world’s leading diamond producers, thanks to output from Botswana PIC: MORERI SEJAKGOMO

Anglo American has granted BHP up to May 29 for talks on a possible takeover, a process that will be keenly watched by both De Beers and government on the implications for the country’s diamonds.

For the past month, BHP – the world’s largest mining company – has pursued a takeover of Anglo American as part of a push to consolidate its copper holdings. On Wednesday, BHP tabled a third increased all-share offer for Anglo valued at $49 billion (P665bn), but was again rebuffed.

Anglo, however, did leave the door open for talks “in order to allow for further engagement with BHP”.

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