'Activist Elliott Builds $1B Anglo American Stake; Anglo American Has Received Takeover Approach From BHP; Hedge Fund Has Been Amassing Stake Over Recent Months' - Bloomberg News
Portfolio Pulse from Benzinga Newsdesk
Elliott Investment Management has acquired a $1 billion stake in UK-listed miner Anglo American Plc, now among its top 10 shareholders. This move comes as Anglo American received a takeover approach from BHP Group Ltd., an Australian mining giant. The stake was accumulated over recent months by the activist hedge fund led by Paul Singer.
April 26, 2024 | 12:28 pm
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BHP Group Ltd., an Australian mining company, has approached UK-listed Anglo American Plc for a takeover, coinciding with Elliott Investment Management acquiring a $1 billion stake in Anglo American.
BHP's interest in acquiring Anglo American could potentially lead to a positive market reaction for BHP, as successful takeovers often create value for the acquiring company's shareholders by expanding their asset base and operational efficiencies. The news of a significant investment by a reputable activist fund like Elliott could also suggest confidence in the strategic value of Anglo American, indirectly benefiting BHP's positioning.
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