Market Chatter: BHP Group Proposed $53 Billion to Acquire Anglo American

MT Newswires Live12-01

BHP Group (BHP) made a bid of 40 billion British pounds ($53 billion), or 34 pounds per share, in its now-aborted effort to acquire Anglo American, Bloomberg reported Monday, citing people with knowledge of the matter.

BHP sent a detailed proposal offer, which consisted mostly of stock and included a cash component, late on Nov. 20, the report said.

Anglo American turned down the proposal after it decided that its own planned acquisition of Teck Resources (TECK) would create more value, the report said.

Anglo American declined to comment, while BHP did not immediate reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment