BHP Group Ltd (LSE:BHP, ASX:BHP) has quickly backtracked on comments yesterday from its chairman that it had ‘moved on’ from its failed bid for Anglo American PLC (LSE:AAL).
Most sources reported this as meaning it was no longer interested in making another bid for its mining peer, but apparently this is not the case.
In a statement this on Thursday, the Australian miner said “BHP clarifies that these comments were not intended to be a statement to which Rule 2.8 of the UK City Code applies.
“The UK Takeover Panel Executive has confirmed that the comments made will not be treated as a statement of intention not to make an offer in respect of Anglo American for the purposes of Rule 2.8 of the UK Code.”
BHP dropped its bid for Anglo on 29 May, meaning it cannot make another offer until the end of November under City rules which bar a lapsed bidder from making another move for six months.
Shares in Anglo rose by 1.3% today to 2,417p.