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BHP considers buying Anglo for copper assets amid supply challenges

Financial Times — April 30, 2024, 05:00 AM UTC

Summary: BHP's £30bn offer for Anglo American aims to secure copper assets due to rising demand and limited supply. Building new mines is challenging, with an average 16-year timeline to cash flows. BHP's bid equates to $21,700 per annualised tonne of copper production. Acquiring existing mines may be more cost-effective than building new ones. Deal complexity and challenges in South Africa may influence the outcome.

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Timeline:

  1. [2.4]
    Anglo American seeks single buyer for Australian coal division (The Australian Financial Review)
    3d
    Source
  2. [3.8]
    Anglo American plans to split into three divisions (Financial Times)
    4d
    Source
  3. [4.0]
    Anglo American to sell Australian coal mines, rejecting BHP bid (ABC News)
    4d
    Source
  4. [4.4]
    Australian share market to rise, Anglo American plans break-up (ABC News)
    4d
    Source
  5. [4.4]
    Anglo American to break up, rejects BHP bid (Financial Times)
    5d
    Source
  6. [3.9]
    Anglo American to spin off De Beers amid restructuring (CNBC)
    5d
    Source
  7. [2.3]
    BHP's improved bid for Anglo American rejected as insufficient (The Guardian)
    6d
    Source
  8. [3.1]
    Anglo American rejects BHP's £34bn takeover bid (The Guardian)
    6d
    Source
  9. [3.1]
    South African Anglo American investors open to revised BHP offer (The Guardian)
    9d
    Source
  10. [3.4]
    Glencore may bid for Anglo American, sparking bidding war (The Guardian)
    16d
    Source
  11. [3.4]
    BHP's $60b bid prompts Anglo American to address issues (Sydney Morning Herald)
    18d
    Source
  12. [2.9]
    BHP CEO Mike Henry plans Anglo American takeover (Financial Times)
    19d
    Source
  13. [5.6]
    BHP bids $60B for Anglo American, targeting copper mines (ABC News)
    20d

    ScoresSource
  14. [3.8]
    BHP's bid for Anglo American attracts potential suitors (Financial Times)
    20d
    Source
  15. [4.2]
    BHP offers $25.7bn settlement for Brazil dam disaster (The Guardian)
    20d
    Source
  16. [1.8]
    BHP shares fall after Anglo American rejects takeover offer (The Motley Fool Australia)
    20d
    Source
  17. [4.6]
    BHP's pursuit of Anglo American faces South Africa obstacle (The Guardian)
    21d
    Source
  18. [2.9]
    Elliott Management acquires $1 billion stake in Anglo American (CNBC)
    23d
    Source
  19. [3.6]
    Anglo American rejects BHP's undervalued £31bn offer (Financial Times)
    23d
    Source
  20. [3.0]
    Anglo American rejects BHP's takeover bid as undervalued (CNBC)
    23d
    Source
  21. [3.0]
    Anglo American's share surge raises information leak concerns (ABC News)
    23d
    Source
  22. [4.6]
    BHP Group bids to acquire Anglo American for US$39 billion (The Globe and Mail)
    24d
    Source
  23. [4.2]
    BHP bids £31.1 billion for Anglo American, targeting copper (CNN)
    24d
    Source
  24. [3.0]
    Minerals minister opposes BHP's bid to acquire Anglo American (Financial Times)
    24d
    Source
  25. [5.6]
    FTSE 100 hits record high on Anglo American takeover news (The Telegraph)
    24d

    ScoresSource
  26. [5.7]
    BHP makes takeover offer for Anglo American, shares rise (The Australian Financial Review)
    24d

    ScoresSource
  27. [5.0]
    BHP Group offers £31.1 billion for Anglo American (CNBC)
    24d
    Source
  28. [4.4]
    BHP proposes all-stock takeover of Anglo American for expansion (Financial Times)
    24d
    Source
  29. [4.7]
    BHP bids $56 billion for Anglo American, pending details (The Australian Financial Review)
    24d
    Source
  30. [4.3]
    BHP considers takeover of Anglo American, signaling major dealmaking (The Age)
    24d
    Source
  31. [4.3]
    BHP considering takeover of Anglo American, impacting mining industry (Sydney Morning Herald)
    24d
    Source