According to sources, BHP was planning to buy all of OZ Minerals' shares for A$25 per share in cash. However, OZ Minerals Limited said that BHP undervalued it and rejected the approximately A$8.34 billion acquisition offer made by BHP Group.
Furthermore, OZ Minerals has abundant long-lived resources for global electrification and decarbonization. BHP said it did not take these factors into account.
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