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BHP Group Limited , the biggest mining company in the world by market capitalization ,has made a move to acquire Anglo American, De Beers parent company.
Anglo American,a diversified mining and metals giant owns 85 percent of De Beers Group, while 15 percent is owned by Government of Botswana.
In a statement today Anglo American , headquartered in the United Kingdom ,
confirmed that it is has received an unsolicited, non-binding and highly conditional combination proposal from BHP Group Limited (BHP).
The proposal comprises an all-share offer for Anglo American by BHP and would be preceded by separate demergers by Anglo American of its entire shareholdings in Anglo American Platinum Limited and Kumba Iron Ore Limited to Anglo American shareholders. The two parts of the proposal would be inter-conditional.
The Anglo American Board said its 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 company said.
BHP Group Limited is an Australian multinational mining and petroleum company with operations in over 90 countries.
It is the world’s largest mining company by market capitalization and one of the top producers of commodities such as iron ore, copper, and petroleum.
BHP confirmed the proposal which it said would give it access to “Anglo American’s world class copper asset”.
Anglo American operates mines in countries like Chile, South Africa, Brazil and Australia.
SOURCE:theprojectsmagazine
