The Australian mining giant is bracing for a slowdown in Chinese appetite for Australia’s most lucrative export,iron ore.
In a highly volatile environment,BHP has shown there is nothing wrong with being boring.
BHP has abandoned its six-week pursuit of rival Anglo American after a plea to extend takeover talks was turned down.
The Anglo American board has finally agreed to let BHP put forward the case for its now $74 billion takeover plan after the Australian mining giant upped its offer for the second time.
The resources giant has until 2am on Thursday morning,Australian time,to increase its bid for rival miner Anglo American,issue a formal binding offer,or walk away.
BHP boss Mike Henry has thrown down the gauntlet to Anglo American’s shareholders,after the London-based miner rejected the Australian giant’s latest takeover offer.
Anglo American chief Duncan Wanblad has shown his hand as the company tries to fight off BHP. His Plan B looks a lot like BHP’s Plan A.
Anglo American has rejected BHP’s second,higher takeover offer. But playing hard is getting harder.
Australia’s largest mining company will be forced to raise its offer to buy rival Anglo American after its initial $60 billion bid was swiftly rejected.
BHP has approached the embattled Anglo American mining house with an all-scrip offer that would see the group’s most troublesome assets spun off.
Copper is shaping up as a star for the mining giant,as it edges closer to making a final call on its nickel business in West Australia.