Anglo American confirms takeover proposal from BHP
confirmed on Thursday that it had received an unsolicited non-binding all-share takeover proposal from Australia's BHP Group.
The London-listed miner, which did not disclose any financial details, said it was reviewing the proposal.
It said: "The board is currently reviewing this proposal with its advisers.
"There can be no certainty that any offer will be made nor as to the terms on which any such offer might be made."
The statement from Anglo came after Bloomberg reported that BHP was considering a potential multibillion takeover offer.
Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: "The buyout offer from BHP, the world's largest publicly listed miner, for Anglo American, won't just shake up the mining industry, but will send a fresh chill through the City of London.
"There are concerns that if the deal goes through it could be the tip of the iceberg and more giants could leave the exchange. It comes hot on the heels of speculation that Shell might up sticks and leave for New York, rumours that Ocado may be considering leaving for the Big Apple, and follows the crushing disappointment of home-grown chip designer Arm choosing the Nasdaq over the FTSE 100."
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.