Anglo American Denies BHP’s Call to Extend Talks Over £39bn Deal

Deal Deadline Approaches

Anglo American has rejected BHP's request to extend the deadline for talks over a £39bn merger, according to people familiar with the matter. The deadline for the two companies to reach an agreement is 1 July, and it is unclear whether they will be able to come to a deal before then.

Company	Market Cap (bn)	Revenue (bn)	Net Income (bn)
Anglo American	£30.8	£26.0	£4.3
BHP	£45.5	£38.4	£6.5

Anglo American has said that it is "not in a position to accept BHP's proposal" to extend the deadline. BHP has said that it "respects Anglo American's decision" and that it "will continue to work towards a transaction that is in the best interests of both companies and their shareholders." The two companies have been in talks since February about a possible merger. BHP has offered to buy Anglo American for £39bn, but Anglo American has so far rejected the offer.

Deal Benefits

A merger between Anglo American and BHP would create a global mining giant with a market capitalization of over £70bn. The combined company would be the world's largest producer of copper, iron ore, and coal.

• Create a global mining giant with a market capitalization of over £70bn
• Be the world's largest producer of copper, iron ore, and coal
• Have a combined workforce of over 200,000 people
• Be headquartered in London

The merger would also create a number of synergies for the two companies. BHP has a strong presence in Australia and the Americas, while Anglo American has a strong presence in Africa and Asia. A merger would allow the two companies to combine their operations and reduce costs.

Reaction to the Deal

The news that Anglo American has rejected BHP's request to extend the deadline for talks has been met with mixed reactions. Some analysts believe that the two companies will eventually reach a deal, while others believe that the merger is now unlikely to happen. The outcome of the talks between Anglo American and BHP will have a significant impact on the global mining industry. A merger between the two companies would create a dominant player in the industry, and it would likely lead to a number of changes in the way that the industry operates.