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My only reservation about the merger is the prospect of holding shares in the spin-off companies, which makes portfolio housekeeping a bit messier. Also, if and when the time comes to sell, it means more transaction fees.
I note BHP are down today which may indicate its unlikely they’ll increase the offer in the event £25 is rejected but at least the market is aware now of how undervalued Anglo American and to a wider extent the mining sector is still!
I don't want platinum. I want to be selective and have more BHP shares.
An all share offer that uses elements of the existing business to put finance the deal is beyond cheeky, its opportunistic and exploitative of existing shareholders. They will need to do much better than this offer and I suspect they know that.
That sounds more plausible. A £25 offer is cheeky, to say the least. Can’t blame them for trying, but it’s a no from me.
The joys of listing on the FTSE, get hugely devalued and then snapped up on the cheap.
The only point in buying UK stocks these days is the chance they get bought out for higher than you paid.
“We would be surprised if this is BHP’s final offer,” “We estimate that a price of at least £28/sh would be necessary for serious discussions to take place, and a takeout price of well above £30 per share would be the outcome if other bidders were to get involved.”
Hold here guys. £25 is too low. Other big miners could be lining up here to get Anglos copper mines
What bid, what have I missed? And what’s fake diamonds got to do with the value of real diamonds? Fake diamonds don’t retain value, theyre for poor people who want to remain poor!
As usual I sold half my holding yesterday for 2150 just before this news came out!. Average was 2242 so I made a £150 loss on sale. Was this a big mistake? Should I rebuy based off this news?
I have seen a few details of the bid, it's lovely. Very happy to hold a lot of shares in here. Best of luck to everyone!
No.... separate news suggests AAL are trying to divest the de Beers diamonds franchise, hardly surprising with the rise of synthetic diamonds...
Just the dia.ond mines not whole company
Very lucrative buying the recent dips in the £16/17 £18 range
To make it clear, the BHP offer implies that AAL shareholders will get one share in "Anglo platinum" , a new company holding AAL's platinum interests, notional value 486 p at the MO. One share in Kumba iron ore, notional value 340p , and 0.7097 of a share in BHP ,FOR EACH AAL share they hold.
At current values (all of which will vary over time) that is worth £25.08 for EACH AAL share , which is why the SP has risen to just below that price.
As usual what follows next may be a better deal from BHP, a competing offer from another source(though only a very few are large enough)or the rejection of the offer by the AAL board.
I'm not sure I want three miners in my folio (or four as I already hold GLEN ) so I will probably sell my AAL before the deal completes , hoping to time my exit better than I did With SMDS!!
Bigger and better offer to come is my opinion
Poor offer and I'm guessing they walk off with the next dividend plus everything invested in Woodsmith.
Keep your £25 BHP
Ill hold the AAL see what transpires over the next few days, i dont see any counter offers , but who knows???, i think the initial bid will get rejected they almost always do, a counter offer of £27 will probably do it , imo
Per bloomberg - their offering 31.1 billion for anglo, current market cap is 33.35+ billion
My gut feeling is this will be rejected and there will not be a further offer. But I could be wrong. The rise here today has offset the drop in my bhp shares as I have more of them so I am not even benefiting from this 🤣
Up she goes,!!!!! any offer would have to be above the 12 month high , so will reach at least £25.50 imo
Has this gone into an auction? I'm not seeing a price update yet
Times article saying Jeffries thinks a 28% premium to last nights close should get it across the line
Offer from BHP, in any case its going to send the Sp soaring towards £25 today, im very happy having bought in at £18
Happy days !!!!!!