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BHP's $39 Billion Bid for Anglo American Could Set FTSE 100 Record

Apr 25, 2024, 07:25 AM

BHP Group has made a significant all-stock takeover bid for Anglo American, valued at approximately £31.1 billion ($39 billion), which could potentially create the world's largest copper producer. This proposal, described as unsolicited and non-binding, includes conditions such as the demerger of Anglo American's holdings in Anglo American Platinum and Kumba Iron Ore Limited. The deal, if successful, would mark one of the largest transactions in the mining industry in recent years and could reshape the global copper market. Anglo American's shares surged by 12% following the announcement, contributing to the FTSE 100 hitting a record high. BHP must declare its firm intention to proceed by May 22, as per regulatory requirements.