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Business deals

Anglo American rejects BHP's 'opportunistic' takeover offer

Deal between U.K. and Australian firms would have created world's largest copper miner

A pit head is seen at an Anglo American platinum mine in South Africa in 2016.   © Reuters

SYDNEY -- U.K. miner Anglo American on Friday rejected a takeover bid from its bigger rival BHP, saying the offer by the Australia-based giant undervalued the company and its prospects. 

The rejection came a day after the company confirmed it had received an unsolicited, non-binding all-share offer from the world's largest mining firm that was conditional on Anglo American spinning off its platinum and iron ore business in South Africa.

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