The Business Times

Anglo American

Energy & Commodities

BHP walks away after fresh approach for Anglo American fails

Under the UK Takeover Code, the Australian mining giant is now barred from making a bid for six months

BHP tried to acquire Anglo American for US$49 billion last year, before eventually walking away after a five-week public battle.
Energy & Commodities

BHP makes renewed takeover approach to Anglo American: sources

The commodities giant has made overtures to Anglo American in recent days

The combined company, called Anglo Teck, will be headquartered in Vancouver, while its primary listing will be in London.
Energy & Commodities

Anglo American agrees to buy Teck in deal reshaping mining

The deal gives Anglo access to Teck’s much-coveted portfolio of copper mines

Rio Tinto expects to spend more than US$13 billion on iron ore mines to replace depleted ones in Western Australia in the next three years alone.
Energy & Commodities

Mining giants squeeze dividends with an eye toward funding growth

Prices of key commodities iron ore and coal have dropped around 13% since the start of the year

Anglo announced a restructuring earlier this year as part of a successful rebuttal of a US$49 billion approach from BHP Group, the world’s biggest miner.
International

Anglo agrees to sell the rest of its steelmaking coal business

The deal that could rise to as much as US$3.775 billion in cash

Anglo American which owns 33.3 per cent of Jellinbah Group – the operator of the Queensland-based mines – will sell the stake to Zashvin, an Australian electric power generation facility operator that already owns a one-third interest in the mines.
Companies & Markets

Anglo-American to sell stake in Australian steelmaking coal mines for US$1.1 billion

UK-based Anglo-American said on Monday (Nov 4) that it will sell its minority stake in a joint venture that owns a 70 per cent interest in the Jellinbah East and Lake Vermont steelmaking coal mines in...

BHP’s decision to withhold a binding bid came after Anglo said it would not grant it a further extension to iron out details of a deal that called for Anglo to first spin off its South African assets.
Energy & Commodities

Investors relieved BHP walked away from US$49 billion Anglo takeover deal

The developments ended a tense standoff between the two global mining giants

Anglo has repeatedly rebuffed proposals from BHP to partly break up and then acquire the 107-year-old company.
Global Enterprise

BHP abandons US$49 billion bid after Anglo refuses more talks

BHP Group decided against making a firm offer for Anglo American, instead walking away for now from what would have been the biggest mining deal in over a decade.

The decision marks a dramatic climax to the five-week battle between two of mining’s biggest names, just hours before a 5 pm deadline for BHP to commit to an offer or walk away for six months.
Energy & Commodities

Anglo won’t extend BHP deadline, threatening end to takeover bid

Anglo has repeatedly rebuffed proposals from BHP to partly break up and then acquire the 107-year-old company

While Anglo has spurned BHP’s US$49 billion bid, it has agreed to talk to the company, which must now make a firm offer by May 29.
International

JPMorgan says BHP plan risks US$4.3 billion South Africa outflow

Such an outflow, if a deal goes ahead, could weaken the rand, which has gained 4.4% against the dollar

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