Elliott Investment Builds Stake in Anglo American -- Market Talk

Dow Jones04-26

1404 GMT - U.S. activist investor Elliott Investment Management has built its stake in Anglo American to roughly $1 billion over the last months, a person familiar with the matter tells The Wall Street Journal. This makes the investment manager--widely known for its campaigns to push companies for change to boost their stock prices--rank among the 10 largest shareholders in the London-listed miner. The news of the share-building comes as Anglo American has become a target for takeover by Australian mining giant BHP, which had its offer valuing the firm at around $39 billion rejected on Friday. Shares are up 3.6% at 2,652.50 pence. (christian.moess@wsj.com)

(END) Dow Jones Newswires

April 26, 2024 10:09 ET (14:09 GMT)

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The news of the share-building comes as Anglo American has become a target for takeover by Australian mining giant BHP, which had its offer valuing the firm at around $39 billion rejected on Friday. Shares are up 3.6% at 2,652.50 pence. 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