cubecrash2| BlackRock (BLK.US) and other shareholders are rumored to encourage Anglo American to extend merger negotiations with BHP Billiton (BHP.US)

editor2024-05-27 12:49:417Academia

Zhitong Finance APP learnedcubecrash2, according to a person familiar with the matter on Saturdaycubecrash2, including BlackRock (BLKcubecrash2.US) encouraged Anglo American to continue working with BHP Billiton (BHP)cubecrash2.US) is negotiating its 38.6 billion pound (US$49.18 billion) mining merger plan.

BHP Billiton, the world's largest listed mining group, must now make a firm offer for Anglo American by May 29, or it will be forced to withdraw for at least six months under British takeover rules after receiving a one-week extension last Wednesday.

Reported that BlackRock is one of the few investors who encourage meaningful negotiations with BHP Billiton.

The report added that two other significant shareholders, Ninety One and Sanlam Investments, also supported the decision to extend the talks, despite the deal structure requiring Anglo American to divest its stake in South Africa's platinum and iron ore divisions.

Ninety One and Sanlam Investments did not respond to requests for comment.

cubecrash2| BlackRock (BLK.US) and other shareholders are rumored to encourage Anglo American to extend merger negotiations with BHP Billiton (BHP.US)

Asset manager BlackRock holds a 9.6% stake in Anglo American and is also a shareholder of BHP Billiton, according to LSEG.

According to reports on Thursday, BHP Billiton will stick to the structure and value of its latest acquisition proposal and focus on addressing target companies 'concerns about execution risks in the coming week.

According to people familiar with BHP Billiton's thinking, only a "smaller, more creative structure can better share risks."

However, people close to Anglo American said the structure needed to change or BHP Billiton would have to pay higher prices.

Anglo American declined to comment, and BHP Billiton and BlackRock did not respond to requests for comment.

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