Trading the spread between the value of Rio Tinto’s dual-listed London and Australian shares is usually the province of specialist arbitrage funds. But BHP’s tilt at Anglo American has it back in focus.
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BHP’s rebuffed $60 billion bid for Anglo American is recasting the resources industry pecking order before terms are put to paper.
One consequence goes right to the heart of rival Rio Tinto’s ability to counter with its own offer, and is creating chatter among hedge funds: dismantling Rio’s outdated dual-listed companies (DLC) structure.
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Original URL: https://www.afr.com/markets/equity-markets/time-for-rio-tinto-dual-listing-rethink-with-anglo-american-in-play-20240502-p5fof7
