Its share price clearly implies investors believe either BHP or potentially someone else – perhaps Glencore or Rio – may come back to the table with a higher bid: Seleho Tsatsi, portfolio manager at Anchor Capital.
You can also listen to this podcast on iono.fm here. ADVERTISEMENT CONTINUE READING BELOW JIMMY MOYAHA: This morning was an interesting Thursday among all the ones we’ve had in April – and that’s because we got a very big announcement from the Anglo American plc stable, followed by a confirmation of that announcement from BHP. BHP intends to buy Anglo, and they’ve made an offer to the board that is currently under consideration.
If the deal was to go through it would make BHP, rather, the largest copper producer in the world. So again I think it speaks to kind of the scale of this business. SELEHO TSATSI: The proper proposal is all for share transactions, so each Anglo American share would be entitled to receive roughly 0.7 BHP Group shares. And then, as we said, the Anglo American stakes in Amplats and Kumba will be spun off or spun out to Anglo American shareholders.
JIMMY MOYAHA: Certainly a very sizable deal that’s on the table, to say the least. And I think if we get anywhere near the $40 billion offer mark for the Anglo Group, this could definitely be something that we’d have to keep an eye on.
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