Materials Gain Amid Deal Speculation -- Materials Roundup

Dow Jones04-27

Producers of metals and other raw materials rose amid deal speculation.

Anglo American rejected a $39 billion takeover proposal from rival BHP, saying the bid "significantly undervalues" the company and setting the stage for a potential bidding war.

Shifts in consumption and production of copper, which hit a two-year high Friday; nickel; platinum and other commodities could force more miners to consolidate as the world economy undergoes electrification, The Wall Street Journal reported.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

April 26, 2024 17:26 ET (21:26 GMT)

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