Anglo American (AAL)

Sector:

Mining

Index:

FTSE 100

2,400.00p
   
  • Change Today:
      14.50p
  • 52 Week High: 2,773.50
  • 52 Week Low: 1,670.20
  • Currency: UK Pounds
  • Shares Issued: 1,337.58m
  • Volume: 3,063,946
  • Market Cap: £32,102m
  • RiskGrade: 209

Anglo American rejects second, £34bn takeover offer from BHP

By Michele Maatouk

Date: Monday 13 May 2024

LONDON (ShareCast) - (Sharecast News) - BHP said on Monday that Anglo American has rejected a revised offer from the Australian miner which valued the company at £34bn.
The second takeover offer, which was made on 7 May, was as up from an initial offer of £31bn, received in April. It was rejected on 13 May.

The new offer was worth £27.53 per Anglo share, up from £25.08.

BHP chief executive Mike Henry said: "BHP put forward a revised proposal to the Anglo American board that we strongly believe would be a win-win for BHP and Anglo American shareholders. We are disappointed that this second proposal has bee rejected.

"The revised proposal represents a 15% increase in the merger exchange ratio and increases Anglo American shareholders' aggregate ownership in the combined group to 16.6% from 14.8% in BHP's first proposal.

"BHP and Anglo American are a strategic fit and the combination is a unique and compelling opportunity to unlock significant synergies by bringing together two highly complementary, world class businesses. The combined business would have a leading portfolio of high-quality assets in copper, potash, iron ore and metallurgical coal and BHP would bring its track record of operational excellence to maximise returns from these high-quality assets."

Anglo American chairman Stuart Chambers said: "The latest proposal from BHP again fails to recognise the value inherent in Anglo American. Anglo American shareholders are well positioned to benefit from increasing demand from future enabling products while the increasing capital intensity to bring greenfield supply online makes proven assets with world class resource endowments ever more attractive. The Anglo American team is focused on delivering against its strategic priorities of operational excellence, portfolio simplification and growth and is set to accelerate delivery in order to unlock this inherent value.

"The BHP proposal also continues to have a highly unattractive structure. This leaves Anglo American, its shareholders and stakeholders disproportionately at risk from the substantial uncertainty and execution risk created by the proposed inter-conditional execution of two demergers and a takeover."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Anglo American Market Data

Currency UK Pounds
Share Price 2,400.00p
Change Today 14.50p
% Change 0.61 %
52 Week High 2,773.50
52 Week Low 1,670.20
Volume 3,063,946
Shares Issued 1,337.58m
Market Cap £32,102m
RiskGrade 209

Anglo American Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
3.37% below the market average3.37% below the market average3.37% below the market average3.37% below the market average3.37% below the market average
55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average
Price Trend
13.6% below the market average13.6% below the market average13.6% below the market average13.6% below the market average13.6% below the market average
38.69% above the sector average38.69% above the sector average38.69% above the sector average38.69% above the sector average38.69% above the sector average
Income
30.39% below the market average30.39% below the market average30.39% below the market average30.39% below the market average30.39% below the market average
40% below the sector average40% below the sector average40% below the sector average40% below the sector average40% below the sector average
Growth
87.9% below the market average87.9% below the market average87.9% below the market average87.9% below the market average87.9% below the market average
79.66% below the sector average79.66% below the sector average79.66% below the sector average79.66% below the sector average79.66% below the sector average

What The Brokers Say

Strong Buy 5
Buy 3
Neutral 11
Sell 0
Strong Sell 1
Total 20
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Anglo American Dividends

  Latest Previous
  Interim Final
Ex-Div 15-Aug-24 14-Mar-24
Paid 27-Sep-24 03-May-24
Amount 42.00¢ 41.00¢

Trades for 31-Oct-2024

Time Volume / Share Price
17:30 2,126 @ 2,397.78p
16:11 829,876 @ 2,410.00p
16:57 8,000 @ 2,411.96p
16:35 3,301 @ 2,400.00p
16:35 346 @ 2,400.00p

Anglo American Key Personnel

Chair Stuart J Chambers
CEO Duncan Wanblad
Finance Director John Heasley

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