(Finance) – The mining giant Anglo American rejects the merger proposal presented by the rival BHPworth 31.1 billion pounds (36 billion euros).
The board of directors of the mining group unanimously rejected an offer that “significantly underestimates” the company and its prospects”, we read in a note.
The group’s president, Stuart Chambers, spoke of an “opportunistic proposal” and “highly unattractive”, which would create “considerable uncertainty about the risks of implementation, almost entirely borne by Anglo American and its shareholders”.
In London, the shares of the Anglo American group showed a fractional decline, while in the Australian market BHP lost more than 3 percentage points.
(Photo: © Anglo American Plc)