April 25 (Reuters) - BHP Group ( BHP ) said it made an
offer to buy London-listed miner Anglo American, valuing
its share capital at 31.1 billion pounds ($38.84 billion), a
deal that would create the world's biggest copper miner with
around 10% of global output.
BHP, the world's largest listed miner, will offer Anglo
American shareholders 25.08 pounds per share, including 4.86
pounds apiece in Anglo Platinum shares and 3.40 apiece in Kumba
shares, it said in a statement on Thursday.
Anglo American earlier in the day said it had received an
unsolicited, non-binding and highly conditional combination
proposal from BHP, which it was currently reviewing.
If the deal goes through, it would give BHP access to more
copper, one of the most sought-after metals for the clean energy
transition, and potash, which are its key strategic commodities,
as well as more coking coal in Australia.
($1 = 0.8006 pounds)