Investors are betting that BHP will pay more than $8.3 billion to consolidate Australia’s best copper and nickel fields after the board of OZ Minerals rejected a takeover bid that builds on a spectacular two years of dealmaking by the nation’s biggest company.
BHP chief executive Mike Henry said he was disappointed that OZ Minerals chairman Rebecca McGrath had not engaged further on BHP’s offer to pay $25 cash for all shares in the Adelaide-based copper, gold and nickel miner.
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Peter Ker covers resource companies for The Australian Financial Review, based in Melbourne. Connect with Peter on Twitter. Email Peter at pker@afr.com
Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
