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...Anglo American’s key South African shareholders are open to a takeover offer from BHP, despite government concerns that the miner’s £30bn-plus proposal is bad for Africa’s most industrialised economy....
...The red metal has charged up the mining sector since BHP’s interest in buying Anglo American became public two weeks ago....
...Investors believe mining company Anglo American is set to be bought or broken up even after the 107-year-old London-listed group rejected a £31bn hostile takeover approach from Australian rival BHP....
...“Anglo American? Was that a mining company?” asked 19-year-old Sinethemba Somana, turning to a friend in puzzlement....
...Since most large American entities touch the Golden State, this will suck 8,000 companies into the net, according to Crunchbase estimates....
...But it did ensnare mining companies in the endless red tape of licence applications....
...As Stanford Management Company’s Robert Wallace told a conference last month, its endowment is targeting a 57 per cent overall allocation to these three asset classes....
Japanese company targets American market with its biggest-ever acquisition
...The Melbourne-based company proposed that Anglo American investors receive 0.7097 BHP shares for each share in the London-based company, valuing the company at £31.1bn....
...BHP’s unsolicited £31bn takeover approach for Anglo American has shaken up the mining industry, provoking speculation that the storied company is ripe to be sold or broken up....
...London-listed shares in Anglo American have been down by more than a third since the start of last year, putting its market capitalisation at £29bn, as the company’s De Beers diamond division and platinum...
...Nippon Steel has agreed to buy US Steel in a $14.9bn deal, as the Japanese group targets the American market with its largest-ever acquisition....
...BHP has proposed a £31bn deal to buy Anglo American, one of its largest rivals, in a deal that would mark the mining sector’s biggest on record....
...“The BHP proposal is opportunistic and fails to value Anglo American’s prospects,” said Stuart Chambers, chair of Anglo American....
...US activist hedge fund Elliott Management has built a $1bn stake in UK-listed mining group Anglo American amid a £31bn ($39bn) approach for the company by BHP....
...Duncan Wanblad took the helm of Anglo American in mid-2022 just as the South African miner reached a record market capitalisation of more than £50bn....
...BHP’s potential bid for fellow miner Anglo American threatens to put a dent in that hard built reputation....
...The two companies could perhaps share infrastructure for their metallurgical coal mines in Queensland Australia. Both have iron pellet businesses in Brazil....
...Not only will generative AI sharpen the competitiveness of US companies, it will boost the overall economy, too....
...“The proposed structure does not reflect a view on South Africa as an investment destination,” the company said, adding that the country would benefit fromAmplats as Anglo American Platinum and Kumba Iron...
...But the companies are key. Miners need to augment their extraction processes and vetting. Too many projects have suffered from safety failures, environmental damage, and exploitation....
...BHP Billiton was formed in 2001 through a merger between BHP and South African company Billiton. Read more here....
...Why does BHP want to own Anglo American? It doesn’t, it wants to own some of Anglo American, specifically the bits that don’t need fixing....
...This ambition culminated when BHP chair Ken MacKenzie called his counterpart at Anglo American on April 16 to deliver a $31bn preliminary offer for the London-listed miner....
...The $1.6tn fund’s chief executive told the FT it was “worrisome” that American companies were outpacing their European rivals on innovation and technology, leading to vast outperformance of US shares in...
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