This week’s Anglo American shareholder meetings in London and Rio Tinto (ASX:RIO) (in Australia) will continue to discuss the fate of the A$60 billion percentage of BHP (ASX:BHP) that it provides to the London-based miner.
BHP shares fell 3. 7% last week following the announcement of the offer; however, Anglo shares jumped 24% on hopes of a takeover war and higher prices.
The Anglo-Saxon assembly will take its position on Tuesday in London (8:00 p. m. Sydney time) and the Rio assembly will take its position on Thursday at 9:30 a. m. Both will be monitored on user basis or for feedback on BHP’s offering.
We can expect Anglo to continue to reject this technique in an effort to get better terms (some cash, please?).
Reuters claimed over the weekend that BHP was contemplating a superior offer, but such leaks and stories are part and parcel of big deals.
It is said that in transactions of this size, the first offering will only be successful if it includes a lot of liquidity, which is not the case with BHP, so a new design will no doubt emerge soon.
Rio will be monitored to see if it shows any interest. Brokers and analysts are set to reignite a bidding war for Anglo involving Rio or Glencore.
However, Rio is financially constrained, with a contribution of $10 billion for the advancement of the large Simandou iron ore allocation (with Chinese and local partners) in Guinea over the next two years, as well as overall capital expenditures. Glencore bought coke from Teck Resources’ coal business for $6. 9 billion and has pledged to keep debt low over the next two years.
Glencore is also crippled by the fact that the deal with Teck may not close until the third quarter of this year, and global festival approvals for that deal will give us an idea of how a potential deal between BHP and Anglo American might be received.
No analyst or investor – or their media spokespeople – touts Rio’s or Glencore’s interest if they don’t mention Simandou’s prices in the case of Rio’s deal with Teck and Glencore (with their higher debt load).
Analysts and some unnamed primary shareholders say Anglo’s fate is sealed and that it will be bought and damaged, even if BHP takes control.
But, as usual, investors are cut off from the authentic global world where politics and resources meet, and this reminds us that, in the end, China will be the big “yes” or “no” for the final destination of the offer, not China. The value of the transaction.
Anglo American rejected BHP’s offer as undervalued and unattractive to its shareholders.
That means it turns out to be a matter of price, but much more.
The study focused on how the acquisition of Anglo American would increase the size of BHP’s commodities, namely coking coal and iron ore.
When it comes to copper, Peru, Chile and South Australia will have a voice and, of course, China.
China will have a say in iron ore, as will Brazil and its top iron ore producer, Vale, which is forming a joint venture with BHP in Samarco’s iron pellet business. It is possible that very judicial judgments will be transmitted to the company in London. which could spark a war between BHP and Vale.
Coal will be an issue, and Australian approval for the acquisition of Anglo’s five mines will come quickly, if the deal is approved elsewhere. With BHP touting the Daunia and Blackwater coal mines in central Queensland to Whitehaven, it’s unclear how many of Anglo’s mines it will own.
It is expected that 85% of the stake in DeBeers will be sold, but still due to the low global costs of diamonds and the increased stress of synthetic stones.
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Increases across all areas of Deep Leads resources: quality, tonnage and target area ABx Group has reported a 30% increase in its Mineral Resource Estimate (MRE) at the Deep Leads Ionic Adsorption Clay (IAC) rare earth deposit in northern Tasmania. The accumulation in MRE comes from 36 extension wells analyzed, representing a significant northward extension for the existing Deep Leads prospect.
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