Timing of BHP's takeover attempt of Anglo American 'wasn't the best'

Morningstar’s Equity Analyst-Mining Jon Mills says the timing of BHP’s takeover attempt of Anglo American “wasn’t the best” given the “political situation in South Africa”. BHP has walked away from its $74 billion takeover bid of South African mining giant Anglo American. This takeover came in the middle of a South African election campaign. “BHP was pretty clear … they were trying to minimise their exposure to South Africa,” Mr Mills told Sky News Business Editor Ross Greenwood. “Then they realised maybe that was a bad thing to actually admit. “Probably wasn’t the best time to make an offer for Anglo given the political situation in South Africa.”