Mining giant BHP Billiton makes $39 billion bid for Anglo American to expand copper operations
Time:2024-05-08 02:05:37 Source:worldViews(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.
Previous:Pamela Anderson goes make
Next:Amanda Holden, 53, sends pulses racing in a skimpy black bikini during lavish yacht trip in sun
You may also like
- China's clean energy sectors gain edge via innovation, supply chain
- Guideline cleans up pollutants
- Moment car trying to make a turn goes airborne and crashes into a California home
- Momofuku backs down from 'chile crunch' trademark war
- Judges ask whether lawmakers could draw up new House map in time for this year's elections
- Xi highlights advancement in education
- Beijing boosts int'l sci
- Polar Research and Climate Change exhibition held in Hong Kong
- Bank holiday booze