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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....
...Wes Gray, chief executive of ETF shop Alpha Architect, said his company had been able to negotiate with Fidelity over the past few months to avoid paying any support fees....
...The red metal has charged up the mining sector since BHP’s interest in buying Anglo American became public two weeks ago....
...It drew in investors including US investment group GQG Partners and asset manager Fidelity....
...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....
...The FTSE 250 £1bn Fidelity China Special Situations trust will absorb the assets of Abrdn’s China Investment Company....
...Fidelity, for example, sees “an interesting middle ground between fully active and fully passive portfolios”....
...“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....
...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....
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....
...Mainstream investment funds such as Fidelity, T Rowe Price and BlackRock are exposed, too....
...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 SEC has flagged potential conflicts with the multi-class structure, including possible “cross-subsidisation”, sowing doubts about its willingness to allow other companies to share the relief....
...“The BHP proposal is opportunistic and fails to value Anglo American’s prospects,” said Stuart Chambers, chair of Anglo American....
...“We have always maintained a very deep and close co-operative relationship with European, American and Japanese manufacturers in the industrial chain,” Zhu said....
...BHP’s potential bid for fellow miner Anglo American threatens to put a dent in that hard built reputation....
...Not only will generative AI sharpen the competitiveness of US companies, it will boost the overall economy, too....
...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....
...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....
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