BHP's Anglo buyout makes business sense if the price is right: Russell [Reuters]
BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares) (BHP)
US:NYSE Investor Relations:
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Source: Reuters
mega-merger actually makes strong business sense, but it will be difficult to pull off to the satisfaction of all parties. BHP , the world's largest mining company, offered $39 billion last week to buy Anglo , a move the London-listed miner that grew out of South Africa rejected as "significantly" undervalued. The expectation now is that BHP may its offer, or other buyers for Anglo, or parts of its diversified portfolio, may emerge. Much of the media attention has focused on Anglo's copper assets as the lure for BHP, with a combined company becoming the world's largest producer of the industrial metal with a share of around 10%. In effect, BHP's bid is largely seen as a massive vote of confidence in the future of copper, which is essential to the energy transition given its properties as a conductor and its resistance to corrosion. The bid may also be a tacit admission on BHP's part that buying copper assets is far easier than trying to find them and develop new mines. Ang
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BHP
News
- BHP shares jump 2.3% after Anglo announces break-up plan [Reuters]Reuters
- Anglo ditches diamonds for copper in radical overhaul to fend off rival BHP [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Exclusive: Anglo American explores De Beers IPO as part of break-up, sources say [Reuters]Reuters
- UPDATE 3-Anglo American eyes break-up as it fends off BHP bid [Yahoo! Finance]Yahoo! Finance
- BHP's Top Australian Investor Eyes Restraint in Battle for Anglo [Financial Post (Toronto, Ontario, Canada)]Financial Post
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