BHP Proposes $39 Billion Takeover of Anglo American, Shares Surge 13%

Apr 25, 2024, 08:45 AM

BHP Group has proposed a significant takeover of Anglo American, valuing the mining company at approximately £31.1 billion ($39 billion). This all-share bid, if successful, would create the world's largest copper producer. The deal, described as one of the largest in the mining industry in years, involves BHP offering a non-binding and conditional proposal, which includes the demerger of Anglo American's holdings in Anglo American Platinum and Kumba Iron Ore Limited. Anglo American has confirmed receiving this unsolicited proposal, which has sparked a potential major reshaping of the copper market and drove Anglo's shares 13% higher. The deadline for BHP to declare a firm intention to proceed with the offer is set for May 22.