BHP Pursues Acquisition Of Anglo American : Reports

(RTTNews) - BHP Group Ltd. (BHP.AX, BLT.L, BBL, BHP) has approached Anglo American Plc. (AAUKY.PK, AAL.L) about buying the 107-year-old company. The move, if materialized, would initiate the most significant upheaval in the mining industry in over a decade, according to the several media reports citing people familiar with the matter.

Anglo American reportedly acknowledged that it received an unsolicited all-share merger proposal from BHP Group Ltd. Anglo American reportedly disclosed that its board is currently in the process of reviewing the proposal, while cautioning that the outcome remains uncertain, with the possibility that an offer might not materialize.

Anglo American - which operates mines in countries like Chile, South Africa, Brazil and Australia - has a stock market value of around 29 billion pounds.