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Anglo American's board of directors received an enhanced proposal from the group on May 7th, which valued the company at 34 billion pounds ($42.67 billion).
Anglo American is being offered the deal by BHP in exchange for shares. Anglo American stockholders would receive 0.8132 BHP shares for each share under the revised offer. After the transaction closes, they will control 16.6% of the combined business overall.
Furthermore, BHP is suggesting that Anglo American give its shareholders access to the securities it owns in Kumba Iron Ore and Anglo American Platinum.
BHP released a statement saying, "The new offer involves a 15% increase in the share exchange ratio and increases Anglo American shareholders' aggregate shareholding in the combined company to 16.6% from 14.8% in the original offer."
source: reuters.com
Anglo American is being offered the deal by BHP in exchange for shares. Anglo American stockholders would receive 0.8132 BHP shares for each share under the revised offer. After the transaction closes, they will control 16.6% of the combined business overall.
Furthermore, BHP is suggesting that Anglo American give its shareholders access to the securities it owns in Kumba Iron Ore and Anglo American Platinum.
BHP released a statement saying, "The new offer involves a 15% increase in the share exchange ratio and increases Anglo American shareholders' aggregate shareholding in the combined company to 16.6% from 14.8% in the original offer."
source: reuters.com
