LONDON (dpa-AFX) - Anglo American plc (AAL.L) announced Wednesday that its board has rejected BHP Group Ltd.'s (BHP) third proposal to takeover for 29.34 pounds per share.
Under the new proposal, BHP had increased the number of shares offering to Anglo American, but it still requires the latter to demerge its shareholdings separately in Anglo American Platinum Limited and Kumba Iron Ore Limited to Anglo American's shareholders.
However, Anglo American denied the proposal stating that the demerger along with the takeover would likely take 18 months, which would badly affect the material transaction and shareholder value.
Currently, Anglo American's stock is trading at 2,715 pounds, up 0.54 percent on the London Stock Exchange.
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