Advertisements
Home News BHP May Still Pursue Anglo American Despite Chairman’s Remarks

BHP May Still Pursue Anglo American Despite Chairman’s Remarks

by Madonna

BHP, the major mining company that previously sought to acquire Anglo American, the parent company of De Beers, might consider another offer. This follows comments from BHP’s chairman, Ken MacKenzie, which seemed to indicate a shift in the company’s stance.

Last week, MacKenzie told shareholders that since Anglo rejected BHP’s $49 billion bid in May, both companies have moved on. He stated, “quite frankly, so have we.” Many interpreted this as a sign that BHP would not pursue another bid once the six-month restriction on UK takeovers ends later this month.

Advertisements

However, BHP quickly issued a clarification. The company emphasized that MacKenzie’s remarks should not be viewed as an official indication that they would not make a new offer for Anglo American. BHP explained, “The UK takeover panel executive has confirmed that the comments made will not be treated as a statement of intention not to make an offer in respect of Anglo American.”

Advertisements

During BHP’s annual meeting, MacKenzie referred to the potential acquisition of Anglo as a “sort of a one plus one equals three opportunity,” indicating that it could have created significant value. However, he acknowledged that Anglo shareholders did not agree with this assessment.

Advertisements

Any change in ownership of Anglo would likely affect De Beers, which is currently facing a downturn in global diamond demand. De Beers is one of the divisions that Anglo is considering selling as it shifts focus toward copper and other more profitable assets.

Advertisements

Last month, the Financial Times reported that it was “an open secret” that BHP was preparing to make another offer for Anglo.

Related topics:

Advertisements

You May Also Like

blank

Giacoloredstones is a colored gem portal. The main columns are Ruby, Sapphire, Emerald, Tourmaline, Aquamarine, Tanzanite, Amethyst, Garnet, Turquoise, Knowledges, News, etc.【Contact us: [email protected]

© 2023 Copyright  giacoloredstones.com