India, April 25 -- Australian mining giant BHP (BHP.AX,BLT.L,BBL,BHP) confirmed a 31 billion pounds takeover bid for British rival Anglo American Plc. (AAUKY.PK,AAL.L).
BHP said that on 16 April 2024 it made a proposal to the Board of Directors of Anglo American regarding a potential combination to be effected by way of a scheme of arrangement.
BHP's proposal comprises an all-share offer for Anglo American subject to the pro-rata distribution by Anglo American of its entire shareholdings in Anglo American Platinum Ltd and Kumba Iron Ore Ltd to Anglo American shareholders before completion.
As per the terms of the proposal, ordinary shareholders of Anglo American would receive 0.7097 BHP shares for each ordinary share in Anglo American; a...