The talk of a potential mega-deal between BHPand London-listed miner Anglo Americanhad the mining world's attentionthis week, and it seems to have attracted the attention of activist investor Elliott Investment Management
Mining giant Anglo American has rejected BHP Group’s £31.1bn proposal after it concluded the plan would undervalue its future prospects. The talk of a potential mega-deal between BHP and London-listed miner Anglo American had the mining world’s attention this week, and it seems to have attracted the attention of activist investor Elliott Investment Management. Bloomberg has reported that the hedge fund, known for its activist campaigns, has acquired a $1bn £800m stake in the miner.
In addition, the board believed the proposal contemplated a highly unattractive structure for Anglo American shareholders, given the uncertainty and complexity inherent in the proposal and significant execution risks. Commenting on the news, Stuart Chambers, chairman of Anglo American said “Anglo American is well positioned to create significant value from its portfolio of high quality assets that are well aligned with the energy transition and other major demand trends.
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