(Bloomberg) -- BHP Group Ltd. has approached Anglo American Plc about buying the 107-year-old company in a move that offers to spark the biggest shakeup of the global mining industry in over a decade. Most Read from BloombergBiden’s Gains Against Trump Vanish on Deep Economic Pessimism, Poll ShowsTaylor Swift Is Proof That How We Critique Music Is BrokenZuckerberg Asks for Patience After Meta’s AI Push Irks InvestorsTech Giants Hit in Late Hours After Meta’s Outlook: Markets WrapFlorida’s Home I
(Bloomberg) -- Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.Most Read from BloombergBiden’s Gains Against Trump Vanish on Deep Economic Pessimism, Poll ShowsTaylor Swift Is Proof That How We Critique Music Is BrokenZuckerberg Asks for Patience After Meta’s AI Push Irks InvestorsTech Giants Hit in Late Hours After Meta’s Outlook: Markets WrapFlorida’s Home Insurance Industry May Be Worse Than Anyone RealizesThe company issued a statemen
MELBOURNE/LONDON (Reuters) -London-listed miner Anglo American said on Thursday it had received an all-share buyout proposal from BHP Group, a deal that would make the world's biggest listed miner also the largest producer of copper globally. The deal, if agreed, would also trigger further transactions in the global mining industry, which has seen a slew of mergers and acquisitions as companies review their assets to raise exposure to metals deemed critical to the energy transition. The proposal comes after Anglo, which had a market capitalisation of $37.7 billion as of Wednesday's close, began a review of its assets in February after a 94% plunge in annual profit and a series of writedowns due to a fall in demand for most of the metals it mines.