Shares in U.K.-based mining giant Anglo American have surged after it received a 31 billion-pound ($39 billion) takeover bid from rival BHP Billiton. The deal would create the world’s biggest copper miner, with around 10% of global output.
FILE - Mining giant BHP Billiton logo sits on the outside of their head office in Melbourne, Australia, Thursday, Nov. 27, 2008. Shares in U.K.-based mining giant Anglo American surged Thursday, April 25, 2024, after it received a 31 billion-pound takeover approach from rival BHP Billiton, a deal that would create the world’s biggest copper miner, with around 10% of global output — a hugely lucrative market in the transition to clean energy.
Anglo American’s share price closed up 16% in London after revealing that BHP, the world’s biggest miner, had put forward the “unsolicited” and “highly conditional” takeover proposal. The prospective all-share offerAnglo American, which owns a majority stake in the world-famous De Beers diamond company, said its board was reviewing the approach from BHP.amid the shift towards clean energy, as well as giving it greater access to potash, and coking coal in Australia.
“The combination would bring together the strengths of BHP and Anglo American in an optimal structure,” it said.“The deal would represent the biggest shakeup of the global mining industry in more than a decade,” said James Whiteside, metals and mining corporate research director at Wood Mackenzie in London.
However, he said other companies may look to buy Anglo American themselves, especially if the company’s shareholders hold out for a higher price.
F Commodity Markets Business Climate And Environment I London United Kingdom Climate
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BHP makes $39 billion bid for Anglo American in mining mega playMining giant BHP Group on Thursday said it had made an all-share takeover offer for rival Anglo American, valuing the company at £31.1 billion ($38.9 billion).
Read more »
Mining Giant BHP Group Makes Nearly $40 Billion Bid For Rival Anglo AmericanI am a Breaking News Reporter at Forbes, with a focus on covering important tech policy and business news. Graduated from Columbia University with an MA in Business and Economics Journalism in 2019. Worked as a journalist in New Delhi, India from 2014 to 2018.
Read more »
Anglo American shares pop 13% after BHP Group's $39 billion takeover bid to form mining juggernautMining giant BHP Group on Thursday said it had made an all-share takeover offer for rival Anglo American, valuing the company at £31.1 billion ($38.9 billion).
Read more »
Anglo American shares pop 12% after BHP Group's $39 billion takeover bid to form mining juggernautMining giant BHP Group on Thursday said it had made an all-share takeover offer for rival Anglo American, valuing the company at £31.1 billion ($38.9 billion).
Read more »
GM Boss Earned $27.8 Million Last Year But Stellantis CEO Led The Way With $39 MillionCarlos Tavares' compensation package swelled by 56% from 2022 thanks to a record-breaking year for Stellantis
Read more »
A California Home in Pebble Beach’s Exclusive Macomber Estates Tees Up at $39 MillionA sprawling compound in Pebble Beach's Macomber Estates lists for $39 million with main and guest houses, spread out over 3 acres with ocean views.
Read more »