Anglo American shares are trading above the value of BHP’s rebuffed $39bn takeover proposal.
A takeover of Anglo American Plc would need to be pitched at more than £30 per share, a higher price than BHP Group offered last week, according to analysts and traders surveyed by Bloomberg. Anglo American shares are trading above the value of BHP’s rebuffed $39 billion takeover proposal, a sign traders are also expecting a higher bid. The premium has increased since Bloomberg News reported over the weekend that BHP is considering making an improved proposal.
Analysts at Deutsche Bank led by Liam Fitzpatrick see two possible scenarios: either the company is acquired at an improved price, or Anglo American delivers on some of the divestments proposed by BHP, which include a spin-off of platinum and iron ore subsidiaries. A bid price above £31 would reflect fuller value, particularly if a cash component is introduced to compensate for uncertainties related to the spin-offs, Fitzpatrick wrote in a research note published Monday.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BHP can't cherry pick Anglo’s assets: Investors - SABC News - Breaking news, special reports, world,BHP can't cherry pick Anglo American assets without paying a hefty premium, Anglo investors said.
Read more »
Anglo American share price shows traders envisage sweeter bidBHP’s proposal has several moving parts.
Read more »
Presidency denies SA business environment hostile amid BHP bid for Anglo AmericanThe multi-billion rand proposal by BHP has turned controversial when it emerged that part of the company’s conditions would see South Africa locked out.
Read more »
Lead poisoning claimants win permission to appeal class action certification against Anglo AmericanThe Zambian class action was filed in South Africa as it would not have been possible in that country
Read more »
US activist hedge fund Elliott is one of Anglo American's 10 largest shareholdersUS activist hedge fund Elliott is one of Anglo American's 10 largest shareholders
Read more »
BHP makes takeover approach for Anglo AmericanA successful takeover would represent the first mega-deal among the world’s biggest diversified miners in over a decade.
Read more »