Anglo American Rejection Signals BHP Will Need to Raise Bid -- Market Talk

Dow Jones04-26

0748 GMT - U.K. mining giant Anglo American's rejection of BHP's $38.8 billion takeover bid confirms a higher premium will likely be needed for the deal to go ahead, RBC analyst Marina Calero says in a research note. BHP's proposal represented a 17% premium to median consensus estimates of the value of Anglo American's assets based on Thursday's closing prices, while average deals in the mining industry offered a 30% premium and a 37% premium in copper deals, according to RBC. "Although an eventual combination could make strategic sense, we view the premium offered as low and think an improved offer would be required, especially considering the complexities around the divestment of the South African subsidiaries," RBC says. Anglo American shares fall 1%, while BHP's London-listed shares trade 0.95% lower. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

April 26, 2024 03:48 ET (07:48 GMT)

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BHP's proposal represented a 17% premium to median consensus estimates of the value of Anglo American's assets based on Thursday's closing prices, while average deals in the mining industry offered a 30% premium and a 37% premium in copper deals, according to RBC. \"Although an eventual combination could make strategic sense, we view the premium offered as low and think an improved offer would be required, especially considering the complexities around the divestment of the South African subsidiaries,\" RBC says. Anglo American shares fall 1%, while BHP's London-listed shares trade 0.95% lower. (adria.calatayud@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 26, 2024 03:48 ET (07:48 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Anglo American Rejection Signals BHP Will Need to Raise Bid -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAnglo American Rejection Signals BHP Will Need to Raise Bid -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-26 15:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>0748 GMT - U.K. mining giant Anglo American's rejection of BHP's $38.8 billion takeover bid confirms a higher premium will likely be needed for the deal to go ahead, RBC analyst Marina Calero says in ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BHP.AU","symbol_name":"BHP GROUP LTD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2430827246","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2430827246","pubTimestamp":1714117680,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0748 GMT - U.K. mining giant Anglo American's rejection of BHP's $38.8 billion takeover bid confirms a higher premium will likely be needed for the deal to go ahead, RBC analyst Marina Calero says in a research note. BHP's proposal represented a 17% premium to median consensus estimates of the value of Anglo American's assets based on Thursday's closing prices, while average deals in the mining industry offered a 30% premium and a 37% premium in copper deals, according to RBC. \"Although an eventual combination could make strategic sense, we view the premium offered as low and think an improved offer would be required, especially considering the complexities around the divestment of the South African subsidiaries,\" RBC says. Anglo American shares fall 1%, while BHP's London-listed shares trade 0.95% lower. 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