Rolling coverage of the latest economic and financial news, as BHP is (again) rebuffed by mining rival Anglo American
Kaan Peker, analyst with RBC in Sydney, has said (via CNBC) that BHP’s latest approach for Anglo looks ‘a little messy’:
“There’s probably a handful of times when assets like this are up for sale, so BHP may as well assess if the option is open. But it does look a little messy from the BHP side.
There was also M&A news over the weekend. BHP made another offer for FTSE 100 miner Anglo American.
The UK company is already in a $50bn merger with Teck Resources, which was designed, in part, to rebuff takeover attempts. BHP has now said that it has walked away from the deal, however, if there was deep concern about the global economy, or the potential for a deep stock market crash, then it would be unlikely to see any takeover attempts, rebuffed or not, in the resources sector.
Continue reading…Rolling coverage of the latest economic and financial news, as BHP is (again) rebuffed by mining rival Anglo AmericanKaan Peker, analyst with RBC in Sydney, has said (via CNBC) that BHP’s latest approach for Anglo looks ‘a little messy’:“There’s probably a handful of times when assets like this are up for sale, so BHP may as well assess if the option is open. But it does look a little messy from the BHP side.There was also M&A news over the weekend. BHP made another offer for FTSE 100 miner Anglo American.The UK company is already in a $50bn merger with Teck Resources, which was designed, in part, to rebuff takeover attempts. BHP has now said that it has walked away from the deal, however, if there was deep concern about the global economy, or the potential for a deep stock market crash, then it would be unlikely to see any takeover attempts, rebuffed or not, in the resources sector. Continue reading…