Elliott Management's $1B Anglo American Stake Ups Ante As Mining Megamerger Collapses [Yahoo! Finance]
BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares) (BHP)
US:NYSE Investor Relations:
bhp.com/investor-centre
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Source: Yahoo! Finance
giant after it became the target of a $39 billion takeover bid from BHP Group (NYSE: BHP ). This development emerged after Anglo American's board rejected BHP's offer , deeming it “highly unattractive” due to its undervaluation of the company's prospects and its complex structure. According to Bloomberg, Elliott Management, led by billionaire Paul Singer , has amassed this holding over the last months. Persons with knowledge of the matter requested anonymity due to the confidential nature of the information. The UK takeover rules require shareholders involved in potential deals to disclose their holdings if they hold more than 1% in either the target or bidding firm. Now Read: Copper Is A Hot Commodity: Bidding War for Anglo American May Emerge After BHP's ‘Low Ball' Offer — ‘Let The Games Begin' Elliott has a history of taking sizable positions and advocating for strategic changes. In 2017, they started pressuring BHP to divest its oil assets and prioritize shareholder returns,
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BHP
News
- BHP Group's (ASX:BHP) investors will be pleased with their 20% return over the last three years [Yahoo! Finance]Yahoo! Finance
- BHP bombshell puts South African mining in a hole [Reuters]Reuters
- Brazil Wants Vale's Next CEO to Have Closer Ties With Government [Yahoo! Finance]Yahoo! Finance
- Brazil Wants Vale's Next CEO to Have Closer Ties With Government [BNN Bloomberg (Canada)]BNN Bloomberg
- BHP's Biggest Rivals Sit on the Sidelines of Anglo M&A Drama [Yahoo! Finance]Yahoo! Finance
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