Takeover talks: BHP chief executive Mike Henry
The BHP boss has flown to South Africa for crisis talks as the mining giant seeks support to take over rival Anglo American.
Chief executive Mike Henry fears the deal could be derailed after Anglo ruled out Sydney-based BHP’s £31bn approach.
But BHP is believed to be working on a new bid of up to £40bn. The proposal faced a backlash in South Africa last week, but BHP insisted its plans to offload two of Anglo’s South African businesses “did not reflect a vision for the country as an investment destination”.
The South African government is BHP’s second-largest shareholder and the surprise bid came at a politically charged time as the country holds a general election this month.
