BlackRock urges Anglo to continue talks with BHP over mining merger

From Investing.com: 2024-05-25 09:55:42

Key shareholders, including BlackRock, urge Anglo American to extend talks with BHP Group over proposed $49.18 billion mining merger. BHP has until May 29 to make a firm bid or face a minimum six-month delay under UK’s takeover rules. Ninety One and Sanlam Investments support negotiations, despite concerns about deal structure.

BlackRock holds 9.6% stake in Anglo and is also a BHP shareholder. BHP stands firm on proposed takeover structure and value, focusing on alleviating target’s execution concerns. Suggestions for smaller, creative structures to mitigate risks are being considered, but Anglo insists on alterations or increased payment from BHP.

Anglo American, BHP Group, and BlackRock remain silent in response to requests for comments. Financial Times reports potential for negotiation adjustments and disagreements over deal terms. ($1 = 0.7849 pounds)



Read more at Investing.com: BlackRock pushed Anglo to extend talks with BHP, FT reports By Reuters