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BHP Group makes $38.8 bln play for Anglo American, copper in focus
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BHP Group makes $38.8 bln play for Anglo American, copper in focus
Apr 25, 2024 12:08 AM

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)

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