As BHP weighs firm bid for Anglo, investors fret over cherry-picking assets [Yahoo! Finance Canada]
BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares) (BHP)
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Source: Yahoo! Finance Canada
JOHANNESBURG/LONDON (Reuters) - BHP Group can't cherry pick Anglo American assets without paying a hefty premium, Anglo investors told Reuters, concerned that they stand to lose heavily by holding shares in South African subsidiaries. The world's No. 1 miner is weighing up its next move after its initial $39 billion takeover proposal for smaller rival Anglo was rejected last week. The proposed premium was 31% on Anglo's implied value. BHP has proposed that Anglo sell its shares in units Anglo Platinum (Amplats) and Kumba Iron Ore as an option to exit the South African assets it doesn't want included in the deal. ADVERTISEMENT Anglo said the unsolicited proposal significantly undervalued the company and introduced uncertainty, complexities and execution risk. If the BHP proposal goes ahead, Anglo investors "could be stuck with three pieces of paper for a deal that could take a long time to close," a source at a Cape Town-based fund manager told Reuters. The process to de-m
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News
- Anglo American considers sale of De Beers diamond business [Yahoo! Finance]Yahoo! Finance
- Gold prices flat as U.S. inflation data takes centre-stage [CNBC]CNBC
- Analysis-BHP's options for Anglo American deal narrow as deadline looms [Yahoo! Finance]Yahoo! Finance
- Analysis-BHP's options for Anglo American deal narrow as deadline looms [Yahoo! Finance Canada]Yahoo! Finance Canada
- BHP's options for Anglo American deal narrow as deadline looms [Reuters]Reuters
BHP
Sec Filings
- 5/14/24 - Form 6-K
- 5/13/24 - Form 6-K
- 5/2/24 - Form 6-K
- BHP's page on the SEC website