The metal’s strong demand as the transition to sustainable energy intensifies has resulted in price increases.
“A mining giant like BHP was ultimately drawn to Anglo American because of its established presence in the copper industry,” stated Tim Waterer, chief market analyst at financial services company KCM Trade.
Mr. Waterer continued, “Anglo American’s share price had dropped by nearly 10% in the previous year, which might have helped make it an even more attractive takeover target.”
BHP’s takeover attempt, according to Susannah Streeter of financial platform Hargreaves Lansdown, “will send a fresh chill through the City of London.” The London Stock Exchange lists Anglo American as a listed company. BHP’s primary listing was moved to Sydney in 2022 from its previous listings in both the UK and Australia.