Hints and tips:
Related Special Reports
...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....
...“Anglo American? Was that a mining company?” asked 19-year-old Sinethemba Somana, turning to a friend in puzzlement....
...BHP said it was “disappointed that the Anglo American board has chosen not to engage”....
...Laying out the proposed changes, Wanblad said: “These actions represent the most radical changes to Anglo American in decades.”...
...BHP chief executive Mike Henry said: “BHP put forward a revised proposal to the Anglo American board that we strongly believe would be a win-win for BHP and Anglo American shareholders....
...This remains insufficient, given the complications of a proposal that includes the value of Anglo’s stakes in Johannesburg-listed Anglo American Platinum and Kumba Iron Ore....
...Chief executive Duncan Wanblad said that “these actions represent the most radical changes to Anglo American in decades”....
...“The latest proposal from BHP again fails to recognise the value inherent in Anglo American,” said Anglo chair Stuart Chambers....
...The acquisition of Anglo American’s mining sites, however, makes little contribution to boosting global copper output....
...“The timing is not surprising considering Anglo is reviewing its business,” said one large shareholder in BHP and Anglo American. “Anglo will need to create a compelling alternative.”...
...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....
...The relationship with Anglo American follows a similar topsy-turvy trajectory....
...North American rivals such as Mark Bristow’s Barrick Gold are also likely to be weighing their options, while a bid for all or part of Anglo American from Brazil’s Vale, India’s Vedanta Resources or a Chinese...
...“The BHP proposal is opportunistic and fails to value Anglo American’s prospects,” said Stuart Chambers, chair of Anglo American....
...Bloomberg first reported news that BHP was considering a potential takeover of Anglo American....
...BHP’s potential bid for fellow miner Anglo American threatens to put a dent in that hard built reputation....
...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....
...Anglo American confirmed the offer in a statement on Thursday morning....
...Anglo American’s South Africa exposures, with about a fifth of its assets there, explain much of its persistent enterprise valuation discount to peers....
...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....
...South Africa’s mining minister was campaigning in Rustenburg, the northern capital of the country’s platinum belt, when news broke of BHP’s £31bn proposal to take over 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....
...American....
...Anglo American blamed “uncertainty around economic growth prospects”....
International Edition