- Write by:
-
Wednesday, May 1, 2024 - 21:40:03
-
89 Visit
-
Print
A takeover of Anglo American Plc would need to be pitched at more than £30 ($37.6) per share, a higher price than BHP Group Ltd. offered last week, according to analysts and traders surveyed by Bloomberg.
Anglo American shares are trading 8.8% above the value of BHP’s rebuffed takeover proposal, a sign traders are also expecting a higher bid. The premium has increased since Bloomberg News reported over the weekend that BHP is considering making an improved proposal.
Of the 12 survey participants who gave an acceptable price for a possible deal, the average value was £30.43 per share, with a range in responses between £28 and £35. BHP’s initial proposal, which has several moving parts, was at about £24.44 pence a share, according to a rough calculation by Bloomberg News based on where all the stocks are trading near midday in London.
Analysts at Deutsche Bank led by Liam Fitzpatrick see two possible scenarios: either the company is acquired at an improved price, or Anglo American delivers on some of the divestments proposed by BHP, which include a spin-off of platinum and iron ore subsidiaries.
A bid price above £31 would reflect fuller value, particularly if a cash component is introduced to compensate for uncertainties related to the spin-offs, Fitzpatrick wrote in a research note published Monday.
There is no certainty that any offer will ultimately be made. BHP has until May 22 to announce a firm intention to make an offer.
Short Link:
https://www.miningnews.ir/En/News/628336
Thyssenkrupp’s chairman on Saturday defended a move to sell a stake in the group’s steel unit to Czech billionaire ...
Chile registered its lowest month of copper production in more than a year, undermining the top-producing nation’s ...
Indonesia will issue copper concentrate export permits for miner Freeport Indonesia and Amman Mineral Internasional, a ...
Argentina’s Mendoza province, known for Malbec vineyards that draw tourists from across the world, is moving to spur ...
Iron ore futures prices slipped on Thursday, undermined by fears of falling demand in top consumer China in the ...
Chilean state-owned Codelco said on Thursday it had reached a collective contract agreement with two workers’ unions ...
Copper extended its retreat from a record, and aluminum dropped from a two-year high, as investors looked to cash in ...
AT&T Inc., BT Group Plc, Orange SA and their global peers are preparing to tap a rich new source of revenue: their old ...
Days after miner BHP launched its takeover bid for rival Anglo American in April, the CEOs of both headed for South ...
No comments have been posted yet ...