{"id":26135,"date":"2024-05-23T12:22:35","date_gmt":"2024-05-23T06:52:35","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=26135"},"modified":"2024-05-23T12:22:35","modified_gmt":"2024-05-23T06:52:35","slug":"anglo-american-rejects-bhps-latest-proposal-extends-pusu-deadline","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/anglo-american-rejects-bhps-latest-proposal-extends-pusu-deadline\/","title":{"rendered":"Anglo American Rejects BHP&#8217;s Latest Proposal, Extends PUSU Deadline"},"content":{"rendered":"<p>Anglo American&#8217;s Board has rejected a third unsolicited takeover proposal from BHP Group Limited and extended the Put Up or Shut Up (PUSU) deadline to 29<sup>th<\/sup> May 2024. The proposal, received on 20<sup>th<\/sup> May 2024, offered Anglo American shareholders 0.8860 BHP shares and shares in Anglo American Platinum Limited and Kumba Iron Ore Limited, valuing each Anglo American share at approximately \u00a329.34 based on prices as of 23<sup>rd<\/sup> April 2024.<\/p>\n<p>The Board found the proposal\u2019s complex structure\u2014requiring demergers of Anglo American&#8217;s stakes in Anglo American Platinum Limited and Kumba Iron Ore Limited\u2014highly conditional and fraught with execution risks. Previous similar proposals were also rejected on 26<sup>th<\/sup> April and 13<sup>th<\/sup> May 2024.<\/p>\n<p>Stuart Chambers, Chairman of Anglo American, said: \u201cThe Board is confident in Anglo American\u2019s standalone future prospects and believes that Anglo American has set out a clear pathway and timeframe to deliver the acceleration of its strategy to unlock significant and undiluted value for Anglo American\u2019s shareholders. The Board considered BHP\u2019s Latest Proposal carefully, concluded it does not meet expectations of value delivered to Anglo American\u2019s shareholders, and has unanimously rejected it.<\/p>\n<p>\u201cIn particular, it does not address the Board\u2019s concerns about the structure, which results in significant complexity, execution risks, an extended timeline to completion and consequently has the potential for material value leakage to be disproportionately suffered by Anglo American\u2019s shareholders. Multiple engagements with the BHP team have not yet been able to resolve the concerns on these issues.<\/p>\n<p>\u201cHowever, the Board is willing to continue to engage with BHP and its advisers on this topic and has therefore requested a one week extension to the PUSU deadline which has been consented to by the Panel.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Anglo American&#8217;s Board has rejected a third unsolicited takeover proposal from BHP Group Limited and extended the Put Up or Shut Up (PUSU) deadline to 29th May 2024. The proposal, received on 20th May 2024, offered Anglo American shareholders 0.8860 BHP shares and shares in Anglo American Platinum Limited and Kumba Iron Ore Limited, valuing&hellip;<\/p>\n","protected":false},"author":1,"featured_media":26136,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-26135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Anglo American Rejects BHP&#039;s Latest Proposal, Extends PUSU Deadline - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gjepc.org\/solitaire\/anglo-american-rejects-bhps-latest-proposal-extends-pusu-deadline\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Anglo American Rejects BHP&#039;s Latest Proposal, Extends PUSU Deadline - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"Anglo American&#8217;s Board has rejected a third unsolicited takeover proposal from BHP Group Limited and extended the Put Up or Shut Up (PUSU) deadline to 29th May 2024. 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