April 25 (Reuters) - BHP Group Ltd (BHP) :
- RESPONSE TO ANNOUNCEMENT BY ANGLO AMERICAN PLC
- CONFIRMS THAT ON 16 APRIL 2024 IT MADE A PROPOSAL TO BOARD OF DIRECTORS OF ANGLO AMERICAN REGARDING A POTENTIAL COMBINATION
- UNDER TERMS OF PROPOSAL, ORDINARY SHAREHOLDERS OF ANGLO AMERICAN WOULD RECEIVE 0.7097 BHP SHARES FOR EACH ORDINARY SHARE IN ANGLO AMERICAN
- PROPOSAL IS NON-BINDING AND SUBJECT TO CUSTOMARY CONDITIONS INCLUDING COMPLETION OF DUE DILIGENCE TO SATISFACTION OF BHP
- PROPOSED DEAL FOR APPROXIMATELY £25.08 PER ANGLO AMERICAN ORDINARY SHARE
- COMBINED ENTITY WOULD RETAIN BHP'S GLOBAL LISTINGS ON ASX, LSE, JSE AND NYSE
- PROPOSAL VALUES ANGLO AMERICAN'S SHARE CAPITAL AT £31.1 BILLION
- COMBINATION WOULD ALSO DELIVER MEANINGFUL SYNERGIES, WHICH WOULD ENHANCE PROFITABILITY AND VALUE FOR ANGLO AMERICAN SHAREHOLDERS
- ANGLO AMERICAN HAS BEEN OFFERED RECIPROCAL DUE DILIGENCE ON BHP
- ANGLO AMERICAN'S OTHER HIGH QUALITY OPERATIONS INCLUDING ITS DIAMOND BUSINESS WOULD BE SUBJECT TO A STRATEGIC REVIEW POST COMPLETION
- ANNOUNCEMENT DOES NOT AMOUNT TO FIRM INTENTION TO MAKE OFFER AND THERE CAN BE NO CERTAINTY THAT OFFER WILL BE MADE
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