Mining Giant Bid for Anglo American Rejected

Australian resources giant BHP has launched a $60 billion power play for the lion’s share of energy transition supplies as the world electrifies. Anglo American’s board has said the offer ”Significantly undervalues Anglo American and its future prospects.” The market reacted to the news of the approach on Friday morning by dropping BHP’s Shares 4.6 percent to $43.14. In Australia, London-based Anglo-American operates several major projects, including the Dawson coal mine and the Grosvenor coal mine in Queensland, as well as the Capcoal and Moranbah North coal mines. The company also has interests in the Moranbah South and Foxleigh coal mines and substantial mineral assets in South Africa....