BHP Retreats From Comments About Moving On From Anglo Bid – by Thomas Biesheuvel (Bloomberg News – October 30, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — BHP Group has been forced to walk back from comments about having “moved on” from its failed Anglo American Plc bid to prevent its hands being tied by the UK takeover panel from launching another buyout attempt.

Chairman Ken MacKenzie made the comments Wednesday at a shareholder meeting of the world’s biggest miner in Australia. Anglo shares fell as much as 4.5%, underperforming the wider sector.

BHP later issued a statement to clarify that MacKenzie’s comments weren’t intended as an official statement under UK takeover rules, and said the panel has agreed not to treat them as a statement of intention not to make an offer. As a result, the world’s biggest miner is still allowed to make a fresh approach for Anglo after its current standstill ends late next month.

For the rest of this article: https://www.bnnbloomberg.ca/investing/2024/10/30/bhp-retreats-from-comments-about-moving-on-from-anglo-bid/