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Full story: BHP moves to buy Anglo American mining group
IF BHP was to take control of Anglo, the combined company would produce around 10% of global output of copper, Reuters points out.
BHP’s proposal to Anglo could potentially flush out other rival suiters, who are also keen to own its copper mines.
“If BHP does indeed continue to pursue this deal, we would be surprised if other bidders do not emerge,” analysts from Jefferies LLC led by Christopher Lafemina said in an emailed note.
A bid that values Anglo at $42.6 billion — a 28% premium based on its latest share price — might get a deal “across the finish line,” they said.
