- Reuters
Analysis-BHP's options for Anglo American deal narrow as deadline looms
BHP Group's options for its pursuit of rival miner Anglo American include sweetening its $42.7 billion buyout offer, making a hostile bid or walking away for now as it approaches a May 22 deadline to lodge a binding offer. As BHP weighs its next move, CEO Mike Henry and his team have been making the case for the mega-deal on the sidelines of an investor conference in Miami and elsewhere to its investors, a large proportion of whom also hold shares in Anglo. "At this stage I think it is up to BHP to try to convince enough of Anglo's institutional shareholders over the coming week that it's worthwhile pressuring their board to engage with BHP, with a potentially even higher offer on the table should this occur," Morningstar analyst Jon Mills said.
- Reuters
Rio Tinto had considered a bid for BHP-target Anglo American, AFR reports
Rio "management had not ruled out making a play for part or all of the mining group and continued to study the day-to-day situation", the AFR reported, citing sources close to Rio. The report did not mention why Rio did not make a proposal but said there is no suggestion that Rio is about to make an alternative bid. Rio declined to comment on the report.
- InvestorPlace
Rio Tinto Stock Looks Like the Next Big Winner
With a potential economic resurgence in China underway, investors are eyeing stocks of companies that mine industrial metals. Of those, Rio Tinto (NYSE:RIO) stock stands out. Rio Tinto looks interesting. pic.twitter.com/9D644jKzpw— Michael A. Gayed, CFA (@leadlagreport) May 8, 2024Rio Tinto is a global powerhouse in mining and metals, with vast operations in aluminum, copper, and other essential materials. This is a company whose stock has gone sideways for years but seems to be tracing a series
