London’s Mining Crown Under Threat From $39 Billion Anglo Bid

BHP Group’s attempt to swallow up Anglo American Plc is the latest threat to one of the London stock market’s most-prized sectors, following speculation that other big names in the commodities space could ditch their UK listings.

While Anglo slammed BHP’s £31.1 billion ($39 billion) offer as “opportunistic” and “unattractive,” analysts expect the Australian company — or perhaps another rival — to try again. Bloomberg reported Friday that US activist Elliott Investment Management has built a $1 billion stake in Anglo, ramping up pressure on the company.

Source: BLOOMBERG