On March 31, 2008, a copper cathode piece was photographed at BHP Billiton’s Escondida, the world’s largest copper mine in Antofagasta, northern Chile.
Ivan Alvarado | Reuters
BHP Group Anglo American Plc has rejected a revised takeover bid that would have valued the company at 34 billion pounds ($42.67 billion), it said on Monday.
Anglo American rejected BHP’s $39 billion all-share takeover proposal in April, calling it opportunistic and seriously underestimating its prospects.
“BHP is disappointed that the Anglo American board has chosen not to engage with BHP on the revised proposal and improved terms,” the company said in a statement.
“BHP Billiton continues to believe that the combination of the two businesses will deliver significant value to all shareholders,” it added.
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