Anglo American Share Discussion Threads

[cobourg1] 20/5/2024 15:36

I can see no reason for the share price dropping this morning, a deal is no less likely. Almost certainly the price was manoeuvred down to let some of their pals in, or to shake out some shares to fill a big order, or orders. To be expected I suppose.

Sit tight!

[ashwani01] 19/5/2024 22:52

It's a complex picture. Everybody has some interest in some part of Anglo. Very difficult to see which way this is going to go. Well, all well be revealed soon hopefully

[sundial1] 19/5/2024 21:01

Glencore won't by it not that daft Ash.it will stay Anglo

[ashwani01] 19/5/2024 19:23

Do you mean Glencore ?

[spier40] 19/5/2024 17:47

still think rio will come in with a bid higher ,they get on with the South African government the CEO IS SOUTH AFRICAN HIMSELF ,AND THEIR BUY ALL OF AAL ,BETTING ON THEM COMING IN AT 30 TO 32 ,they watched bhp do all the leg work be a interesting 3 days and hopefully a bidding war ,GLA

[cobourg1] 19/5/2024 16:21

BHP's $64 billion takeover of Anglo American 'absolutely not' in trouble


Apologies if you have already seen this, I hadn't. Just copy and paste the title above into YouTube.

[philanderer] 19/5/2024 15:03

ebab , it's a messy sort of bid with BHP insisting AAL have to divest some parts before their offer stands. Looking like their final bid may be around 2800p with BHP dropping that insistence of AAL having to unload those few parts first.

I sold 50% at 2730p last monday . Maybe a bit previous , maybe not, who knows ;-)

[eggbaconandbubble] 19/5/2024 12:36

Phil, do you get the feeling that the media have made this out to be more complicated than how it will end up. A simple offer from BHP at an increased price?

[philanderer] 19/5/2024 00:29

Telegraph...


Anglo American shareholders ready to accept simpler deal from BHP


Anglo American’s shareholders are ready to accept a simpler deal from BHP, paving the way for a potential takeover of the FTSE 100 mining giant.

Two significant Anglo shareholders said BHP’s current plan to spin-off parts of Anglo as part of a £34bn all-stock takeover was too complicated.

However, they indicated that they would be willing to consider a revised bid that didn’t involve a break-up.

One top 15 Anglo shareholder said: “Taking away that conditionality [of spinning-out parts of the business] can improve things.”

It is a blow to Anglo chief Duncan Wanblad, who has been seeking to convince investors to support his rival plans to improve performance at the miner and unlock value.

BHP chief executive Mike Henry spent part of this week at a major mining conference in Miami, where he is understood to have taken soundings from Anglo shareholders about what price they would be willing to accept.

Part of the investor feedback is also understood to include criticism about the complexity of the deal.

Another top 15 Anglo investor said: “We don’t need to accept any offer. There’s no gun to our head.”

Anglo’s management has rebuffed two bids from BHP over the past few weeks.

However, the Australian mining giant is widely expected to return with a third offer next week ahead of a Takeover Panel deadline on Wednesday evening.

BHP’s most recent offer was worth £34bn, or £27.53 per share. The proposed deal involved a two-step process where Anglo’s iron ore miner, Kumba, and platinum digger, Amplats, would first be divested to Anglo shareholders before BHP takes over the rest of the business.

Anglo owns 79pc of Amplats and 70pc of Kumba, which are both listed in Johannesburg.

The complexity of the multistage process, and uncertainty around how the stakes in Amplats and Kumba would be valued post-spinout, have made investors wary.

A City fund manager who holds Anglo stock said: “BHP needs to understand how complex this deal looks to investors. They are going to end up with all sorts of bits and pieces. I would prefer BHP to do the heavy lifting and take away all of Anglo.”

Another British money manager said: “It’s difficult to arrive at what the value would be because of these pre-conditions attached. Ditching those would make things a lot easier.”

However, a third significant shareholder said the complexity was “not a priority” and they were more focused on the price BHP was offering.

Many investors want a bid above the £30 mark, which would value Anglo at more than £37bn.

BHP is yet to do due diligence on the group, which may make the company wary of over-bidding.

Mr Wanblad and his management team have so far refused to engage with BHP as they seek to protect Anglo’s independence.

Chairman Stuart Chambers this week used the complexity of BHP’s proposals to attack the deal, saying shareholders would be “at risk from the substantial uncertainty and execution risk”.

The takeover battle for one of the world’s biggest miners has prompted Anglo to propose its own radical break-up plan in an effort to unlock value for shareholders and safeguard its independence.

Hours after BHP made its latest offer, Anglo said it would sell its historic diamond brand De Beers, dial down investment in UK fertiliser mine Woodsmith and sell its coal mining business.

Anglo will also mirror BHP’s plan for Amplats by spinning off its 79pc shareholding to investors.

Mr Wanblad is understood to have also met with several leading Anglo shareholders in recent days urging them to back his plan.

BHP and Anglo declined to comment.

[pander45] 18/5/2024 21:35

Yep 30 said it all along and that's what I think it will go for. Just posturing going on. Deal close I'd say at a wild guess.

[eggbaconandbubble] 18/5/2024 15:45

Good advice that cobourg ('cyborg' according to spell-checker!!!) - selling half.

My experience is (no expert here!) that if one takes thr price when they start to creep up just before the initial announcement (insider trading effect) then the successful and final bid comes in pretty much give or take at 40% higher.

Hence my guess AAL will go (if it does!) at, give or take, £30.

We shall see.

[cobourg1] 18/5/2024 11:34

The usual advice given on takeovers is, if you see a decent profit then sell half to lock in a gain and then wait, because there might be other bidders.

I'm expecting BHP to come back with a plus 5% offer. I read that Anglo rejected the first bid immediately but waited a week before rejecting the second bid. Hopefully a deal is getting closer. The dream scenario would be if Glencore get involved.

Not a word about Chinese interest which I find surprising from the world's biggest ore consumer.

[philanderer] 18/5/2024 09:57

Daily Mail:

Anglo American last night admitted that jobs will go at its Yorkshire potash mine; 80% of the 1,400 staff who work on-site could face the axe, according to sources.

[snoopy12] 17/5/2024 16:14

Could get an after hour RNS. My money is still on BHP.

[foxy22] 17/5/2024 16:00

Spier40 I think u are right on the markGlencore will bid less arrogant re sa assets

[spier40] 17/5/2024 15:55

I think Glencore will bid and steel the show they will offer the 32.00 and bhp will of done all the work

[philanderer] 17/5/2024 14:52

....or maybe not ;-)

[spier40] 17/5/2024 14:30

could be the 32.00 everyone suggesting

[philanderer] 17/5/2024 14:26

Leaky - 3rd bid offered to AAL ?

[philanderer] 17/5/2024 10:17

JPMorgan raises Anglo American price target to 2,775 (2,600) pence - 'overweight'

[spier40] 17/5/2024 08:01

a deal will be done bhp want aal the aal share holder will back a deal if bhp sweeten the offer which they will the aal share holder will grab it will it on the table , they have till the 22nd to come back so it a game of patience and wait for the third and final offer which will be accepted .GLA

[tuftymatt] 17/5/2024 07:42

Post 1406, I hope you are right egg 🤞🏻

Good luck all 👍🏻

[sundial1] 16/5/2024 20:12

the price will drop out of Anglo, because board will refuse offer. and it will be cherry picked to survive .potash in Yorkshire be an expensive nuclear dumping waste facility.diamond side be hived off loss making .and Glen will buy the coal business.be left with copper and iron ore worth talking about there policies