Anglo American rejects BHP's 'opportunistic' takeover offer

Source: Nikkei Asia

SYDNEY -- U.K. miner Anglo American on Friday rejected a takeover bid from its bigger rival BHP, saying the offer by the Australia-based giant undervalued the company and its prospects.

The rejection came a day after the company confirmed it had received an unsolicited, non-binding all-share offer from the world's largest mining firm that was conditional on Anglo American spinning off its platinum and iron ore business in South Africa.