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必和必拓势在必得?考虑提高对英美资源的收购报价

BHP Billiton is bound to win? Consider increasing the acquisition offer for British and American resources

cls.cn ·  Apr 28 11:12

① Global mining giant BHP Billiton is considering a higher acquisition offer for Anglo-American Resources Group. Previously, the offer of £25.08 per share had been rejected by the other party; ② Some investors in Anglo-American Resources pointed out that the company's reasonable value was about £30 per share; ③ BHP Billiton is focusing on the copper assets of British and American Resources, hoping to create the world's largest copper miner.

AFP, April 28 (Editor Zhou Ziyi) After BHP Billiton's initial $39 billion takeover offer to Anglo-American Resources Group was rejected, according to a source familiar with the situation, BHP Billiton is considering making a higher offer.

The source said that BHP Billiton is discussing a revised offer for Anglo-American Resources Group in the next few weeks. The review is still ongoing, and the group has yet to decide on the size and structure of the new proposal.

Increase your offer

On Friday (April 26), Anglo-American Resources declined BHP Billiton's $39 billion full share exchange offer. The offer is worth approximately £25.08 per share of Anglo-American Resources and requires Anglo-American Resources to split its platinum and iron ore business in South Africa.

Regarding the original takeover proposal, Stuart Chambers, chairman of Anglo-American Resources Group, called it “speculative” and accused it of seriously underestimating its future prospects.

BHP Billiton's current bid mainly focuses on copper resources from British and American resources. Due to its conductivity and corrosion resistance, copper is used in various fields from electric vehicles and power grids to construction. It has also become a core metal in the clean energy transition and is regarded by governments as a strategic mineral.

If it cooperates with Anglo-American Resources Group, then the two will form a group that accounts for about 10% of global copper metal production.

Furthermore, according to LSEG data, if negotiations between the two sides reach an agreement, then this deal will be the world's largest mining acquisition deal so far in 2024, and will rank among the ten largest transactions in the industry's history.

It is expected that BHP Billiton will win the deal and raise the initial price of £25.08 per share, thus creating the world's largest copper miner.

On Friday, Anglo-American Resources shares closed at £26.43. According to some investors in Anglo-American Resources Group, the company's reasonable value is around £30 per share.

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Previously, Jefferies, a well-known investment bank on Wall Street, valued Anglo-American Resources Group at 42.6 billion US dollars, which is 28% higher than its current market value, or more than £31 per share. The bank believes that only when the purchase price reaches this price can the deal “cross the finish line.”

The translation is provided by third-party software.


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