Mining giant BHP Billiton makes $39 billion bid for Anglo American to expand copper operations
Time:2024-04-27 02:24:53 Source:entertainmentViews(143)
LONDON (AP) — Shares in U.K.-based mining giant Anglo American surged Thursday after it received a 31 billion-pound ($39 billion) takeover approach from rival BHP Billiton, a deal that would create the world’s biggest copper miner, with around 10% of global output — a hugely lucrative market in the transition to clean energy.
Anglo American’s share price closed up 16% in London after revealing that BHP, the world’s biggest miner, had put forward the “unsolicited” and “highly conditional” takeover proposal. The prospective all-share offer from BHP, which is based in the U.K. and Australia, values each Anglo share at 25.08 pounds.
Anglo American, which owns a majority stake in the world-famous De Beers diamond company, said its board was reviewing the approach from BHP.
BHP said the deal would boost its presence in the copper market, which is seeing demand soar amid the shift towards clean energy, as well as giving it greater access to potash, and coking coal in Australia. Copper is particularly sought after as the metal is used widely in electric vehicles, batteries and charging stations.
You may also like
- Lady Victoria Hervey dons chic monochrome ensemble as she visits an art exhibition in London
- Xi Calls for Better Integration of Modernization Process in China, Singapore
- China's basketball star Yi Jianlian announces retirement
- Xi Calls for Better Integration of Modernization Process in China, Singapore
- Las Vegas Raiders take Georgia tight end Brock Bowers with the 13th pick in the NFL draft
- Xi Sends Congratulatory Message to China
- China to streamline national medical insurance reimbursement system
- Nation's big progress in IP to help advance tech ties
- Ravens pick Clemson CB Nate Wiggins in the first round, adding depth and speed to their secondary