Anglo American Share Price Shows Traders Want a Sweeter Bid [Financial Post (Toronto, Ontario, Canada)]
BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares) (BHP)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Traders are pushing Anglo American Plc shares above the value of BHP Group Ltd.'s takeover proposal, a sign they expect a higher bid from the suitor or an interloper. BHP's proposal, which values the target at £31.1 billion ($38.9 billion), has several moving parts — it calls for Anglo shareholders to receive BHP shares, plus stock in two listed Anglo units that would be spun off. Article content Article content Add it up and the deal values Anglo at about 2,400 pence a share, according to a rough calculation by Bloomberg News based on where all the stocks are trading near midday in London. Anglo American shares are up 13% to 2,498.00 pence, about 4% above the implied potential bid price. Read more: BHP Targets Anglo American in Bid Valuing Miner at $39 Billion While that premium isn't huge, it's a clear sign of traders' expectations: Takeov
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- BHP's Biggest Rivals Sit on the Sidelines of Anglo M&A Drama [Yahoo! Finance]Yahoo! Finance
- BHP's Biggest Rivals Sit on the Sidelines of Anglo M&A Drama [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Anglo CEO meets S.Africa mines minister after BHP's takeover proposal [Reuters]Reuters
BHP
Sec Filings
- 5/2/24 - Form 6-K
- 4/29/24 - Form 6-K
- 4/25/24 - Form 6-K
- BHP's page on the SEC website