BHP facing deadline to improve bid for Anglo American amidst takeover saga

STORY: BHP, the world's biggest miner, wants to buy Anglo's copper assets. They hope to make a good offer that will convince Anglo's investors to talk about a deal. BHP's CEO, Mike Henry, thinks Anglo should first sell its South African platinum and iron ore businesses before they agree to a takeover. BHP feels encouraged by Anglo's plans to slim down, as it's similar to what BHP wants to do. They are thinking of ways to pressure Anglo into starting discussions. Anglo's shareholders are not fully convinced by BHP's latest proposal. They believe that Anglo's plan to focus on copper makes it a more attractive target for a takeover in the future. Some shareholders think that if BHP waits too long, they may have to pay more for Anglo's shares later. Anglo's stock price has gone up since BHP showed interest, but some investors feel that Anglo's plan is good for now to fend off BHP's takeover attempt. BHP would need to increase its offer by about 30% to match the fair value of Anglo and its copper assets, according to JPMorgan analysts. Anglo has turned down two offers from BHP. Under UK rules, BHP must make a final offer by May 22 or walk away. The market seems to doubt that BHP will raise its offer and reach a deal with Anglo. Anglo recently rejected an improved proposal from BHP, saying it undervalues their business. In summary, BHP wants to buy Anglo's copper assets but needs to make a better offer. Anglo's shareholders are not fully convinced by BHP's proposals. The market is unsure if BHP will increase its offer to reach a deal with Anglo.