Anglo American shares pop 12% after BHP Group makes $39 billion takeover bid [CNBC]
BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares) (BHP)
US:NYSE Investor Relations:
bhp.com/investor-centre
Company Research
Source: CNBC
Anglo American shares leapt 12% at the market open. The company confirmed it had received an “unsolicited, non-binding and highly conditional combination proposal.” Australia-based BHP Group said the deal would see Anglo American's ordinary shareholders receive 0.7097 BHP shares per Anglo American share. The proposal would entail demergers of Anglo American's shareholdings in Anglo American Platinum Limited and Kumba Iron Ore Limited to Anglo American shareholders. “The combination would bring together the strengths of BHP and Anglo American in an optimal structure. Anglo American 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. Anglo American said it was reviewing the proposal. This is a breaking news story and will be updated shortly.
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- BHP's page on the SEC website