Commodities
BHP Makes $6.4 Billion Binding Offer for OZ Minerals
- Shareholders to vote on deal in late March or early April
- Acquisition of Australian miner to boost BHP’s copper output
This article is for subscribers only.
BHP Group Ltd. has made a binding offer to acquire Australian copper producer OZ Minerals Ltd. for A$9.6 billion ($6.4 billion), securing its biggest deal in more than a decade and boosting exposure to key materials used in clean energy and electric cars.
The A$28.25-a-share bid, first announced in November, will now go to shareholders for approval in late March or early April, BHP said in a regulatory filing Thursday. It comes nearly five months after OZ Minerals rejected its first offer of A$25 a share.