It wants all of Anglo, just not its South African assets, which many have read as a vote against the country.
BHP CEO Mike Henry reportedly flew into SA on Thursday to sell his company’s $39 billion offer to buy Anglo – minus the SA assets – to shareholders, regulators and government officials.
The clarification statement suggests BHP did not anticipate the kind of backlash it has received to the structure of the deal. “The BHP Group has been listed in Johannesburg for multiple decades and intends to maintain its listing on the JSE,” it says. The real prize for BHP is Anglo’s South American copper businesses which would give the combined group control over roughly 10% of world supply.
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