BHP Makes $39 Billion Anglo Approach to Create Mining Giant
- All-share deal would create the world’s top copper producer
- Demand for the metal soaring amid the global energy transition
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BHP Group Ltd. proposed a takeover of Anglo American Plc that valued the smaller miner at £31.1 billion ($38.9 billion), in a deal that would create the world’s top copper producer while sparking the industry’s biggest shakeup in over a decade.
BHP, already the largest miner, proposed an all-share deal in which Anglo would first spin off controlling stakes in South African platinum and iron ore companies to its shareholders before being acquired by BHP. The total per-share value of the non-binding proposal was about £25.08, BHP said.