BHP Group Shares Surge Amid Speculation Over Anglo American Takeover Bid
Ahead of the deadline to formally submit a proposal for Anglo American, which recently rejected a $43 billion buyout offer, shares of BHP Group shot u
Ahead of the deadline to formally submit a proposal for Anglo American, which recently rejected a $43 billion buyout offer, shares of BHP Group shot up to a threemonth high. Analysts credit positive market factors, such as Chinas stimulus package for real estate and recordhigh copper prices, for BHPs stock surge. However, they express scepticism over BHPs possibility of pursuing a second proposal, given Anglos lacklustre reaction. By UK takeover regulations, BHP must either make a legally binding bid for Anglo by this Wednesday or wait six months. BHP refrained from commenting, although Anglo has turned down two prior offers in favour of concentrating on copper holdings and selling off other companies. The likelihood of competing bids or Anglo selling assets increases with the length of the purchase process.
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B2B Tech News | 2 months ago