How a global race to secure copper supplies sparked a £31bn bid for a FTSE giant
The Telegraph“The proposed deal highlights miners’ desperation to boost production through acquisitions, in order to reap the benefits of the growing supply gap,” says Piotr Ortonowski, project manager at Benchmark Mineral Intelligence. Before the takeover bid became public, Anglo’s shares had been steadily declining for a year – with the company’s stock price plunging by 20pc after shock cuts to its production forecasts in December. Gwede Mantashe, the South African mineral resources minister, said he was against a tie-up because his country’s past experience with BHP was “not positive”, the Financial Times reported. “There’s risk attached.” But ultimately it may all come down to price – and responsibility for getting a good deal falls to Anglo chairman Stuart Chambers and the rest of the company’s board.
History of this topic
Anglo American rejects fresh £34bn takeover approach from BHP
The Telegraph
FTSE reaches another record level on strong earnings and Anglo American bid
The Independent
Mining giant BHP Billiton makes $39 billion bid for Anglo American to expand copper operations
The Independent
Anglo American shares soar on £31bn takeover approach from BHP
The Independent
BHP plots takeover of FTSE 100 mining giant
The Telegraph
Will there be an end to selling England by the pound?
The Independent
BHP leads FTSE higher after major revamp
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