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including BlackRock to continue engaging in talks with BHP Group over its proposed 38.6 billion pound mining merger, a person familiar with the matter toldto make a firm bid for Anglo American or it will be forced to walk away for at least six months under the UK’s takeover rules after it was granted a one-week extension on Wednesday.
Two other significant shareholders, Ninety One and Sanlam Investments, also backed the decision to extend talks, despite concerns about a deal structure that requires Anglo to spin off its stakes in its South African platinum and iron ore units, the newspaper added.US-based asset manager BlackRock owns a 9.6% stake in Anglo, according to LSEG data, and is also a BHP shareholder.
The FT said that according to people familiar with BHP’s thinking, there was only scope for “smaller, creative structures to better share the risks”.
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