Anglo American pulls the plug on BHP takeover bid

ANGLO American has rejected a lastminute plea from larger rival BHP to extend talks about a £38billion takeover, effectively ending a five-week battle for the mining giant.

- Greof He

BHP asked for an extension to yesterday's deadline to file a binding offer for Anglo, after it had three takeover bids rejected.

However, Anglo refused the 11th-hour request, stating that BHP's offer was still too low, too complex and risky to execute.

London-listed Anglo, which is best known for its De Beers diamonds business, said that none of the concessions made by BHP to allay its concerns in talks between the two sides  were enough.