China Could Hinder BHP's Bid to Become Copper's Top Producer [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) — BHP Group Ltd.'s $39-billion bid to create a global copper giant risks irking its biggest customer China, where authorities have a history of intervening to stymie or water down international mergers. A takeover of Anglo American Plc. would catapult BHP into the top spot for copper producers, with 10% or more of the world's output. That could be a red flag for Beijing, which has long bemoaned China's weak purchasing power against the miners that dominate trade in raw materials. Article content Article content “This may invite close scrutiny from a competition perspective, specifically China's smelting industry,” Bloomberg Intelligence analysts Grant Sporre and Alon Olsha wrote in a note. The deal comes just as Chinese copper processors are struggling to turn a profit on supplies from miners like BHP. China's State Administration For Market Reg
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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