Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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a few thoughts.
a) bhp has not won hearts and minds on this at all- most of its institutions cannot see the merits / logic of this pick and mix approach - bhp has not done its home work on the merits of this at all.
b) why on earth does bhp want debeers? diamonds have had it -they are now being manufactured cheaply- the whole industry is in a slow death
c) reputational risk - bhp has an outstanding track record of investment returns. anglo does not, is cash poor, has some major capex to do, will dilute bhp earnings. bhp is taking a significant risk with its reputation. this is not like bhp/ oz minerals.
d) bhp wants copper assets, we have been informed - ok so why not anto***asta, first quantum minerals etc
e) other than modest corporate hq overlap, where are the synergies with this deal?
f) anglo am board are not going to approve without getting an over the top offer, which bhp if it has any sense is not going to offer- so who is pulling whose plonker here?
message to bhp; its not too late, withdraw honourably, deal was never there anyway, and it will be forgotten about in a few months. bhp does not need anglo am myriad of problems
It’s dropping because people in the know BHP will be paying over the odds while stockmarket indices are trading at roppy levels.
In US, everyone was under impression interest rates coujd be cut by May, that isn’t happening, maybe not in 2024 at all. That is a red flag, there’s gossip that FEDS could be looking at raising rates to bring down inflation as it has started to rise this yr.
Factors for BHP sp direction is not all about BHP, it’s the wider picture out in this big nasty world we’re now living..
Gla
I’m getting lots of alerts of investment institutions disclosing their holdings in BHP. Are they loading up,on BHP? Or am I getting it the wrong way round.
The advisers won’t be paid in shares. I don’t know what BHP are doing. They’ve already racked up tens of millions in advisory fees, payable in cash, on a bid that has zero chance of succeeding and a high risk of failure even if they bid 40% more. Did they not buy a small stake in AAL prior to their bid to mitigate part of the cost ?
If this firm is serious in its offer for AAL then bite the bullet and pay £45 per share and be done with it before the Chinese snap it up. With a lot of mouths to feed, it would be a rare opportunity to make a killing for a very large population.
Why is this share falling? They have made a paper offer .Paper is cheap. NO MONEY HAS BEEN LOST OR ASSETS.
quite an illogical reaction made by fools!
I think I’ll be buying more RIO this yr than BHP, i meant
The copper talk could be a red herring. The disguised target is POLY 4..Read between the lines.
No doubt BHP has examined the various outcomes from their opening bid. The structure of the offer makes it clear that there are many elements of the AAL business of no interest to BHP.
AAL management were already examining a restructure, this bid accelerates the process and may fracture the business into more bitesize pieces, allowing BHP to make a more targeted bid for the pieces it wants - it will not want diamonds, platinum or a piece of Yorkshire.
This BHP management team is a very different group to those who originated the bid for RIO. They claim to be more disciplined than the old firm - the last 6 years has shown they are, I hope it continues.
What about FIRST QUANTUM LTD in Canada?
They have great Copper assets too, and coujd get them on cheap due to debt they carry.
An extra £10 on top of the share offer might be tempting.
Driftking27.
AAL deal may not happen!!
I'm more than happy to set BUY orders all the way down.
If you like BP gl ...fill ya boots
BHP COULD NOT PAY ENOUGH FOR AAL. POLY4 IS BETTER THAN A GOLDMINE AND THE LONGIVITY OF THE SUPPLY BEGGERS BELIEF.
You’re wasting your time with setting an order.
Try buying 1/3 of your possible total cost your prepared to buy in BP, and top up with the 2/3 if and when it drops 10%. It will happen, as stocks don’t always go up for ever.
This is not environment for orders.
Best of luck.
Thanks fromage.
2% or so down on a takeover offer - I'll take that any day when you consider that this market can knock 10% off your share price just for mediocre results.
Reasonably hopeful that BHP won't overpay for Anglo.
Or that BHP up their offer. The risk is they end up overpaying in a bidding war.
@ drfiter : "have just calculated my dividend (72c)payout versus what was paid and yes it’s 30% less"
30% less than what? 72 US cents was the full dividend with no WHT and that equates to GBP 0.562983 at the prevailing conversion rate (as in the RNS) and that is what I received in the UK.
Yes, me too. It does seem too big a drop given that AAL will refuse. I hope.
Added this morning 2280p
Happy to add more if there's any further retracement/increased offer
gla
Have not the BoD got better things to do.
Thanks for bringing this to light. I only pay attention to that DWT if buying shares on other indexes.
Bought more on Feb, and have just calculated my dividend (72c)payout versus what was paid and yes it’s 30% less
Reported on Bloomberg