With just hours to go until the “put up or shut up” deadline for BHP to submit a formal offer for Anglo American, Anglo has again rebuffed the Australian group’s merger proposal — and declined to extend the deadline even though BHP has now promised a wide range of “socioeconomic measures” to allay concerns about a deal. 

That has set the stage for a knife-edge day by the end of which BHP will either walk away, or persuade Anglo to get back to the negotiating table, possibly by sweetening its all-share offer with some cash. ..

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