BHP's $74 Billion Anglo American Bid Hits Snags Amid Intense Negotiations and Rising Copper Prices
May 29, 2024BHP Group's $74 billion takeover bid for Anglo American faces challenges as BHP seeks an extension to address concerns raised by Anglo American.
BHP proposes socio-economic measures to secure the deal, including spinning off Anglo's South African units to align with BHP's green energy focus.
The rejection of the latest offer has intensified negotiations, with analysts stressing the importance of meeting Anglo American's valuation amid rising copper prices.
The Australian share market drops significantly due to inflation concerns.
Sierra Rutile faces production impacts from a partial strike.
Fresh concerns arise over the remit of a federal Environmental Protection Agency.
Hesperia plans to restructure into two brands.
Rio Tinto and BHP collaborate on battery-electric haul trucks.
Fortescue advances its hydrogen haulage plans.
A campaign is launched to keep onshore gas in Western Australia, with the premier's stance on the issue remaining uncertain.
Summary based on 14 sources
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Sources
The Guardian • May 29, 2024
BHP seeks extension to talks on move to take over mining rival Anglo AmericanYahoo Finance • May 29, 2024
BHP seeks extension as crunch time for $49 billion Anglo bid approachesThe Sydney Morning Herald • May 29, 2024
BHP seeks last-minute deadline extension to hammer out $74b deal