Anglo American shares pop 12% after BHP Group makes $39 billion bid

[Pelican Press 0]

Anglo ********* shares pop 12% after BHP Group makes $39 billion bid

Miners carrying out operations.

Graeme Williams | Gallo Images Roots Rf Collection | Getty Images

Mining giant BHP Group on Thursday said it had made an all-share takeover offer for rival Anglo *********, valuing the smaller company at £31.1 billion ($38.9 billion).

Anglo ********* shares leapt at the market open and were 12% higher at 9 a.m. in London.

The company confirmed it had received an “unsolicited, non-binding and highly conditional combination proposal,” which it said it was reviewing with advisers.

Australia-based BHP, the biggest listed miner according to Companies Market Cap, said that the deal would deliver 0.7097 BHP shares per Anglo ********* share to Anglo *********’s ordinary shareholders.

A combination of the firms would form a juggernaut in copper mining and the world’s largest player in the space which would supply 10% of global output, according to a Reuters analysis. Anglo ********* has a huge copper operation based in South America and a production target for the metal of 730,000 to 790,000 tons in 2024. This compares with a copper output aim between 1.7 million and 1.9 million for BHP over the same *******.

Mining firms are seeking to shore up copper supplies over the years ahead due to projected shortages and the metal’s key role in the energy transition, with uses in electric vehicles, power grids and wind turbines.

The mining industry has experienced an

This is the hidden content, please

• Sign In
• or
• Sign Up

in merger and acquisition activity over the last four years as companies position themselves for changing demand patterns.

Anglo ********* share price.

BHP in 2022 merged its dual-floated business into a single legal entity with a primary listing in Australia.

Markets had closed before the announcement Thursday morning.

The proposal would entail divestments by Anglo ********* to its shareholders of its stakes in South *******-based Anglo ********* Platinum Limited and Kumba Iron Ore Limited.

“The combination would bring together the strengths of BHP and Anglo ********* in an optimal structure. Anglo ********* would bring its assets and long-term growth potential. BHP would bring its higher margin cash generative assets and growth projects along with its larger free cash flows and stronger balance sheet,” BHP Group said.

This is the hidden content, please

• Sign In
• or
• Sign Up

Breaking News: Markets,Markets,BHP Group Ltd,BHP Group Ltd,Anglo ********* PLC,business news
#Anglo #********* #shares #pop #BHP #Group #billion #bid

This is the hidden content, please

• Sign In
• or
• Sign Up

For verified travel tips and real support, visit: https://hopzone.eu/