Blackstone Weighs Scrapping Bid for Big Yellow Group
Private equity heavyweight Blackstone is reportedly considering dropping its pursuit of British self-storage operator Big Yellow Group, per a Monday Sky News report.
Big Yellow extended Blackstone’s deadline to present a formal takeover offer until Dec. 8, giving the firm more time to decide whether to commit or retreat. Blackstone disclosed in mid-October that its affiliates were “considering their position,” which included a potential cash offer for the company’s entire issued share capital.
BHP Withdraws £40B Anglo American Offer After Rebuff
Mining giant BHP Group reportedly submitted a £40 billion ($53 billion) takeover proposal for rival Anglo American PLC, according to Bloomberg. The “detailed proposal,” delivered in late November, valued shares at roughly £34 apiece in what sources described as a “mostly stock” deal.
Anglo’s board rejected the bid, Bloomberg reported. BHP subsequently confirmed the talks but said it ultimately chose to walk away. Neither company has publicly confirmed the exact value of the proposed offer.
