Published: 2024-04-25 10:42
Photo by Melanie Burton (Reuters/Scanpix)
Australia-based international mining, oil and gas company BHP Group, the world’s largest metal ore producer, has submitted an offer to acquire Anglo American, a smaller company in the same segment.
The proposed share deal would see Anglo American shareholders receive 0.7097 BHP shares for each Anglo American share they hold, as well as an Anglo American Platinum share.
The deal, if approved, would value Anglo American at $31.1 billion. GBP. The company’s market value reached 27 billion at the end of Wednesday’s trading. GBP.
Anglo American shares rose 13% to £24.89 in early trading on Thursday, lifting the company’s market capitalization to £30.5bn. GBP.
BHP says the deal aims to expand its copper mine portfolio, with Anglo American operating some of the sector’s most attractive mines in Peru and Chile. The company has confirmed that it has received BHP’s offer and is now evaluating it.
If it goes through, the deal would be the biggest in the segment in years and is already drawing comparisons with Glencore’s acquisition of Xstrata in 2013.
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