Battle for Anglo's copper assets tests BHP's resolve as deadline looms
BHP's resolve to add more copper to its portfolio will be tested by Anglo American investors' demands for a simpler offer for the whole company or a cash sweetener to clinch a deal that could become the biggest in mining history.
BHP shares fall after Anglo American rejects third proposal, extends bid deadline
Shares of Australia's BHP Group fell over 3% on Thursday, a day after smaller rival Anglo American rejected its third takeover proposal and agreed to a one-week extension for the deadline to make a binding offer.
Anglo American rejects 'third and final' BHP bid but talks continue
Anglo American PLC (LSE:AAL) has rejected a "third and final" offer from BHP Group Ltd (LSE:BHP, ASX:BHP) but the bid deadline has been extended by a week as the pair are in talks. The board of the FTSE 100-listed miner said they received a third "highly conditional" takeover proposal from BHP on Monday.
Anglo American rejects 'third and final' BHP bid but talks continue
Anglo American PLC (LSE:AAL) has rejected a "third and final" offer from BHP Group Ltd (LSE:BHP, ASX:BHP) but the bid deadline has been extended by a week as the pair are in talks. The board of the FTSE 100-listed miner said they received a third "highly conditional" takeover proposal from BHP on Monday.
Miner Anglo American rejects third takeover offer from rival BHP Group as talks deadline extended
Anglo American rejected a third takeover proposal from rival BHP Group on Wednesday, as the companies agreed to extend talks deadline by one week.
Anglo American says it's received and rejected a third BHP offer
Anglo American AAL, -2.01% said it's received, and rejected, a third conditional offer from BHP Group BHP, -2.29%. The latest terms are 0.8860 BHP shares as well as the demerger of its stakes in Anglo American Platinum and Kumba Iron Ore, which collectively would value it at £29.34 per share using April 23 prices.
Anglo American rejects 29.34 pounds per share proposal from BHP
Anglo American on Wednesday rejected a takeover proposal from BHP Group that valued the company at 29.34 pounds per share.
Major Anglo investor says BHP bid requires 'meaningful revision'
BHP Group's $43 billion takeover proposal for smaller rival Anglo American needs a "meaningful revision", one of Anglo's top investors said on Wednesday, as the clock ticks for the world's No.1 miner to submit a binding offer.
These copper stocks are buzzing as copper price hits record high
Demand for copper in a diverse set of industries has been on the rise this year as the global economy continues to thrive. In fact, price of the industrial metal hit an all-time high on Tuesday.
Nippon Steel Acquisition Push; Hecla's 2023 Sustainability Highlights; BHP's Bid For Anglo American Faces Challenges And More: Monday's Top Mining Stories
Top Stories for May 20, 2024: 1. Nippon Steel is intensifying efforts to secure its $14.1 billion acquisition of United States Steel X despite opposition from union leaders and the Biden administration. Vice Chairman Takahiro Mori will visit Pittsburgh to meet with local staff and officials, while technical teams will assess U.S. Steel mills. Although Nippon Steel aims to finalize the deal before the election, opposition from the United Steelworkers and President Joe Biden has created uncertainty. Union President David McCall opposes the deal due to national defense concerns, which Nippon Steel denies. 2. Hecla Mining HL released its 2023 Sustainability Report, detailing its environmental, social and governance (ESG) performance. Despite operational disruptions from wildfires and weather events, the company focused on workforce safety, environmental stewardship and community well-being while increasing silver production. Key highlights include an $855 million economic impact on local communities, over 40,000 hours of safety training and a 16% lower injury rate than the U.S. average Hecla also reported a 5% increase in women in professional roles, a 36% reduction in GHG emissions from the 2019 baseline and achieving net zero carbon emissions for the third consecutive year with carbon offset credits. Also Read: Silver Rockets To 11-Year Highs, Copper Hits Record Peak, Gold Approaches Historic Close: Mining Stocks’ Wild Ride 3. BHP’s BHP $43 billion bid for Anglo American AAUKF faces challenges, with a looming May 22 deadline and no sign of reciprocation from Anglo. Anglo is currently restructuring and divesting platinum, diamonds and coal assets, while accelerating its focus on copper. Anglo's largest shareholders, BlackRock BLK and South Africa’s Public Investment Corporation could complicate the potential takeover. The takeover by BHP also endangers the $9 billion Woodsmith fertilizer mine in England, raising local job concerns. 4. Jefferies initiated coverage on Steel Dynamics STLD with a Hold Rating and announced a price target of $150. The firm also initiated coverage on Nucor NUE with a Hold Rating and announced a price target of $190. Now Read: Zijin Mining Sets Ambitious 50% Growth Target For Copper Production By 2028 Benzinga Mining is the bridge between mining companies and retail investors. Reach out to [email protected] to get connected with the Benzinga community! Photo: Shutterstock © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Panagora Asset Management Inc. Has $3.35 Million Holdings in BHP Group Limited (NYSE:BHP)
Panagora Asset Management Inc. raised its holdings in BHP Group Limited (NYSE:BHP – Free Report) by 18.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,036 shares of the mining company’s stock after acquiring an additional 7,651 shares during the period. Panagora Asset Management Inc.’s holdings in BHP Group were worth $3,350,000 as of its most recent filing with the Securities and Exchange Commission. Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC increased its stake in BHP Group by 6,529.2% during the 4th quarter. International Assets Investment Management LLC now owns 464,771 shares of the mining company’s stock worth $31,749,000 after purchasing an additional 457,760 shares in the last quarter. Moran Wealth Management LLC grew its holdings in shares of BHP Group by 10.3% during the fourth quarter. Moran Wealth Management LLC now owns 449,667 shares of the mining company’s stock worth $30,717,000 after buying an additional 42,021 shares in the last quarter. XY Capital Ltd grew its stake in shares of BHP Group by 422.1% during the 4th quarter. XY Capital Ltd now owns 127,566 shares of the mining company’s stock worth $8,714,000 after acquiring an additional 103,134 shares in the last quarter. Morgan Stanley raised its holdings in shares of BHP Group by 2.8% in the third quarter. Morgan Stanley now owns 4,695,563 shares of the mining company’s stock valued at $267,084,000 after purchasing an additional 126,643 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in BHP Group by 44.7% in the third quarter. Wellington Management Group LLP now owns 2,993,564 shares of the mining company’s stock valued at $170,274,000 after purchasing an additional 924,202 shares in the last quarter. 3.79% of the stock is currently owned by institutional investors. BHP Group Trading Up 2.4 % BHP Group stock opened at $61.47 on Monday. The company has a quick ratio of 1.22, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average is $57.67 and its 200-day moving average is $60.31. BHP Group Limited has a 12 month low of $54.28 and a 12 month high of $69.11. BHP Group Cuts Dividend The firm also recently declared a semi-annual dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were paid a $1.44 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a dividend yield of 5.2%. Wall Street Analysts Forecast Growth A number of equities analysts have recently commented on the stock. Liberum Capital restated a “hold” rating on shares of BHP Group in a research note on Tuesday, March 5th. Citigroup upgraded BHP Group from a “neutral” rating to a “buy” rating in a research note on Thursday, March 14th. Finally, StockNews.com cut BHP Group from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $50.00. Check Out Our Latest Report on BHP BHP Group Company Profile (Free Report) BHP Group Limited operates as a resources company in Australia, Europe, China, Japan, India, South Korea, the rest of Asia, North America, South America, and internationally. The company operates through Copper, Iron Ore, and Coal segments. It engages in the mining of copper, silver, zinc, molybdenum, uranium, gold, iron ore, and metallurgical and energy coal.
