BHP’s Anglo offer needs significant revision, says PIC

(Photo by Gallo Images/Sharon Seretlo)

The Public Investment Corporation (PIC) is evaluating BHP’s takeover offer for Anglo American, stating that it requires a “meaningful revision” to be considered. As a shareholder in both companies, PIC’s position holds significant weight in the decision-making process. The deadline for BHP to submit a binding takeover offer to Anglo’s board is imminent, with the possibility of an extension under the UK Takeover code. PIC, managing over R2.5 trillion in assets, emphasizes the importance of offers reflecting the value of Anglo’s assets and the future benefits that BHP can obtain.