Anglo rips itself apart to try to shake off BHP
BHP boss Mike Henry has welcomed Anglo chief executive Duncan Wanblad’s radical plan, saying the move is a ‘variant’ of its own rejected bid, offering shareholders a clear choice.
Bhp Group Limited
ASX 200 gains as BHP rises; SCA rejects ARN
SCA board rejects new ARN proposal. Wages growth slows. BHP insists Anglo bid ‘compelling’ after target’s split plans. Iress falls amid hack probe. AACo down as cattle prices dent profit. Mixed reaction to budget.
The two big hurdles BHP faces in getting its Anglo prize
BHP chief Mike Henry’s ‘light’ sweetener to Anglo American’s board was never expected to succeed but the question is, how much does he want this messy deal?
Anglo American’s BHP dealings well played say market observers
Things are not playing out the way BHP would likely have hoped in its pursuit of Anglo American.
ASX 200 falls; Anglo to sell assets
Anglo American to divest or demerge assets, including Aussie coal mines, as rebuffs BHP takeover. Karoon Energy targets oil output lift. Inquiry head takes aim at Star reforms. ARN Media still chasing SCA. GUD jumps.
BHP rebuffed over sweetened $64bn Anglo bid
Anglo American has rebuffed a sweetened buyout from BHP that would have delivered a 15 per cent premium from the Australian giant’s initial offer that would have consolidated BHP as the world’s biggest miner.
ASX ends up 0.7pc; Westpac lifts investor mood
Australia’s sharemarket rose for a third day running, tracking the US market to its highest daily close in almost two weeks, after cooling non-farm payrolls data gave hope of a soft economic landing with interest rate cuts.
Banks, rates and BHP’s target keep investors guessing
It’s shaping up as an eventful week on the local bourse with bank earnings reports, an RBA rate decision and a potential bidding war for BHP-target Anglo American all on the agenda.
BHP changes its head of M&A
As speculation continues over the next step in BHP’s $40.5bn pursuit of Anglo American assets, one interesting development is that BHP has changed its head of mergers and acquisitions.
Rio Tinto bosses tightlipped on Anglo American bid
The mining major has refused to speculate on BHP ‘rumours’ and faced fresh questions on their environmental commitment.
BHP class action lawyers to target other firms
An international law firm says it will target Australian companies including BHP, escalating the political row over the regulation of class action litigation funders.
Hedge fund increases its stake in Anglo American
Activist hedge fund Elliott Management has continued to lift its stake in Anglo American after the mining major knocked back BHP’s takeover offer.
BHP can get Anglo deal over line with a lift in offer
Bernstein says a substantial improvement in BHP’s takeover offer is what’s needed to win support from Anglo shareholders.
ASX up as interest rate jitters recede
The sharemarket extended its gains, closing up 0.4 per cent. Origin, NSW in talks to extend Eraring by four years. CBA pushes back rate cut call. Weak retail data hits Aussie dollar. ASIC sues Magnis and chair. Worley falls.
ASX 200 up; WA mine closure; Crown job cuts
Share market rises on US futures gains. Crown Resorts job cuts. WA nickel mine closure. Lawyers claims Super Retail board knew of CEO affair. New Star chair says David Foster ‘had to go’.
UBS top of the tree for mergers and acquisitions
Should BHP improve its $40bn offer for the bulk of Anglo American and buy the business, it is likely to cement investment bank UBS at the top of the M&A league table.
Investors hope BHP doesn’t overpay for Anglo
BHP’s challenge will be convincing not just Anglo American shareholders’ but its own shareholders about the merits of buying the rival miner’s assets for $40.5bn.
Long game: Behind BHP’s pitch to Anglo’s investors
Anglo American had been on BHP’s radar for years – not months – although the Australian giant believed it had to get its own house in order before any mega-deal.
Elliott’s Anglo American move may help BHP bid
The emergence of activist fund manager Elliott Management on Anglo American’s share register is a potential complication for BHP, but may also play in its favour.
The Anglo blow BHP could land on Canberra’s IR laws
BHP wants to push ahead with its copper operations in South Australia but if it secures Anglo American it doesn’t have to if it can’t extract modifications to the federal industrial relations laws.
Original URL: https://www.theaustralian.com.au/topics/bhp-group-limited/page/9