The Public Investment Corporation (PIC), a significant stakeholder in both Anglo American plc (AAUKY.PK, AAL.L) and BHP Group (BHP), has stated on Wednesday that the existing BHP proposal for Anglo American requires substantial revision. The PIC asserts that the proposal must adequately reflect the intrinsic value of Anglo's current assets as well as the potential future advantages that BHP could gain, particularly from Anglo's unlisted assets.
Furthermore, the PIC emphasized the necessity for South African shareholders to maintain ongoing and permanent involvement in the acquired assets via the Johannesburg Stock Exchange (JSE).
Recognizing Anglo American's positive influence on both the South African economy and the broader region, the PIC insisted that this beneficial role should not be compromised by BHP's proposed offer. The PIC affirmed its commitment to continued engagement with both corporations regarding this matter.
