BHP Group (BHP) made a bid of 40 billion British pounds ($53 billion), or 34 pounds per share, in its now-aborted effort to acquire Anglo American, Bloomberg reported Monday, citing people with knowledge of the matter.
BHP sent a detailed proposal offer, which consisted mostly of stock and included a cash component, late on Nov. 20, the report said.
Anglo American turned down the proposal after it decided that its own planned acquisition of Teck Resources (TECK) would create more value, the report said.
Anglo American declined to comment, while BHP did not immediate reply to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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