Why is BHP interested in Anglo American?

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GUEST - Seleho Tsatsi, Investment Analyst, Anchor Capital

Anglo American (Anglo [AGL]) confirmed on 25 April that it had received a US$39bn takeover offer from BHP Group (BHG). BHP is bidding for Anglo’s rump - everything in Anglo, excluding Amplats and Kumba. The market (before BHP’s initial proposal was announced) was implying a value for that rump of US$20bn. Anchor Capital estimates that Anglo’s rump (before BHP’s initial proposal was announced) was trading at 7x 2023 operating profit.

29 Apr 1PM English South Africa Business News · Investing

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