Mining giant BHP Billiton makes $39 billion bid for Anglo American to expand copper operations
LONDON (AP) — Shares in U.K.-based mining giant Anglo American surged Thursday after it received a 31 billion-pound ($39 billion) takeover approach from rival BHP Billiton, a deal that would create the world’s biggest copper miner, with around 10% of global output — a hugely lucrative market in the transition to clean energy.
Anglo American’s share price closed up 16% in London after revealing that BHP, the world’s biggest miner, had put forward the “unsolicited” and “highly conditional” takeover proposal. The prospective all-share offer from BHP, which is based in the U.K. and Australia, values each Anglo share at 25.08 pounds.
Anglo American, which owns a majority stake in the world-famous De Beers diamond company, said its board was reviewing the approach from BHP.
BHP said the deal would boost its presence in the copper market, which is seeing demand soar amid the shift towards clean energy, as well as giving it greater access to potash, and coking coal in Australia. Copper is particularly sought after as the metal is used widely in electric vehicles, batteries and charging stations.
Related articles
I was sent an explicit photo by a stranger on my birthday so I took hilarious revenge on him
A woman who was sent an explicit photo by a stranger on her birthday has been praised for the hilari2024-05-07Full Text: Remarks by Chinese President Xi Jinping at China
(Xinhua) 10:39, August 26, 2023JOHANNESBURG, Aug. 25 (Xinhua) -- Chinese President Xi Jinping addres2024-05-07China honors promise to ensure smooth running of Chengdu Universiade: Xi
(Xinhua) 14:05, July 28, 2023CHENGDU, July 28 (Xinhua) -- China has earnestly delivered on its solem2024-05-07Chinese vice premier calls on central SOEs to contribute more to Tibet's development
(Xinhua) 13:51, September 08, 2023LHASA, Sept. 7 (Xinhua) -- Chinese Vice Premier Zhang Guoqing call2024-05-07Paying college athletes appears closer than ever. How could it work and what stands in the way?
A settlement being discussed in an antitrust lawsuit against the NCAA and major college conferences2024-05-07Xi sends congratulatory letter to General Assembly of Alliance for Cultural Heritage in Asia
(Xinhua) 10:37, April 25, 2023BEIJING, April 25 (Xinhua) -- Chinese President Xi Jinping sent a cong2024-05-07
atest comment