Anglo American Rejects BHP Group's $49 Billion Takeover Bid

Anglo American has turned down BHP Group's final request for additional time to discuss a $49 billion takeover offer. This move marks the end of a five-week pursuit by BHP. The takeover proposal, initially extended to May 22, was rejected as too complex to execute.

Anglo American on Wednesday rejected BHP Group's last-ditch request for more time to discuss a $49 billion takeover offer, dismissing it as highly complex and ending a five-week pursuit by the bigger rival.

Anglo had granted BHP a one week extension until 1600 GMT on Wednesday to its original May 22 deadline to submit a binding offer, after rejecting a third takeover proposal that had been dismissed as difficult to execute.