Elliott takes $1 billion stake in Anglo American as miner faces takeover interest
Publishing timestamp: 2024-04-26 12:01:12
Summary
Elliott Management has built a $1 billion stake in Anglo American, which rejected a takeover bid from BHP. Anglo American's rejection was based on the belief that BHP's offer undervalued the company, especially considering the importance of copper in the transition to clean energy. Elliott has experience with mining companies, including a campaign at BHP in 2017.
Sentiment: NEUTRAL
Keywords: mergers and acquisitions, business, activism, breaking news, breaking news: business, business news, bhp group ltd, anglo american plc,
Source: https://www.cnbc.com/2024/04/26/elliott-builds-anglo-american-stake-as-miner-faces-takeover.html