Five Things You Need to Know to Start Your Day: Europe
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Good morning. BHP wants to buy Anglo American, Meta’s spending plan worries investors and a possible yen-tervention captivates currency markets. Here’s what people are talking about.
BHP Group has approached Anglo American about buying the 107-year-old company in a move that offers to spark the biggest shakeup of the global mining industry in more than a decade. Anglo’s board is reviewing the proposal and it cautioned that there is no certainty an offer will be made. Anglo has faced a series of setbacks over the past year, as prices for some of its key products plunged, while operational difficulties forced the company to slash its production targets. If successful, a takeover would mark a return to large-scale dealmaking for BHP, which has revived its appetite for transformational acquisitions in the past couple of years under Chief Executive Officer Mike Henry.