Apr 25, 2024 (The Australian - ABIX via COMTEX) --
BHP says that acquiring Anglo American would increase its exposure to 'future facing commodities', given that the latter has significant copper assets. Anglo American has advised that its board is considering the Stg31bn ($60bn) offer, which it has described as "unsolicited, nonbinding and highly conditional". BHP's offer comprises 0.7097 of its shares for every Anglo American share. The bid values the target at Stg25.08 per share, although BHP is effectively proposing to pay Stg16.82 per share because the offer is conditional on Anglo American selling its stakes in Anglo Platinum and Kumba Iron Ore to its current shareholders. Anglo American has given BHP a deadline of 22 May to make a firm offer or walk away from the proposed deal..
Publication Date: 26 April 2024
BHP GROUP LIMITED - ASX BHP
ANGLO AMERICAN PLC
ANGLO AMERICAN PLATINUM CORPORATION
KUMBA IRON ORE LIMITED
COMTEX_451428530/2229/2024-04-25T19:11:10
By Nick Evans
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