Is BHP Billiton destined to win? Consider raising bid for Anglo American

Financial News Agency, April 28 (Editor Zhou Ziyi) After BHP Billiton’s initial US$39 billion acquisition offer for Anglo American was rejected, a source familiar with the situation revealed that BHP Billiton is considering making a higher acquisition offer.

Financial News Agency, April 28 (Editor Zhou Ziyi) After BHP Billiton’s initial US$39 billion acquisition offer to Anglo American was rejected, according to a source familiar with the situation, BHP Billiton is considering making a higher acquisition offer. .
The source said that BHP Billiton is discussing a revised offer for Anglo American in the coming weeks. Deliberations are still ongoing. The group has not yet made a decision on the size and structure of the new proposal.
Raise offer On Friday (April 26), Anglo American rejected BHP Billiton’s US$39 billion all-shares takeover bid.
The offer proposes a value of approximately 25.08 pounds per share of Anglo American and requires Anglo American to spin off its platinum and iron ore operations in South Africa.
Regarding the initial acquisition proposal, Stuart Chambers, chairman of Anglo American, called it opportunistic and accused it of seriously underestimating its future prospects.
BHP Billiton’s bid is mainly focused on Anglo American’s copper resources.
Because of copper\’s electrical conductivity and corrosion resistance, the metal is used in everything from electric cars and power grids to construction.
It has also become a core metal for the clean energy transition and is regarded as a strategic mineral by governments around the world.
If it cooperates with Anglo American, the two will form a group accounting for about 10% of global copper metal production.
In addition, according to LSEG data, if the negotiations between the two parties reach an agreement, the transaction will become the world\’s largest mining acquisition transaction so far in 2024. It will also rank among the ten largest transactions in the history of the industry.
It is expected that BHP Billiton will win the deal and increase its initial offer price of 25.08 pounds per share, thereby creating the world\’s largest copper miner.
On Friday, Anglo American shares closed at 26.43 pounds.
Some investors in Anglo American say the company is reasonably worth about 30 pounds a share.
Previously, Jefferies, a well-known Wall Street investment bank, valued Anglo American at US$42.6 billion, 28% higher than its current market value, or more than 31 pounds per share. The bank believed that the acquisition price could only be achieved if it reached this price. The deal crossed the finish line.

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