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Several of Glencore's largest shareholders, including BlackRock, Ivan Glasenberg, and Qatar Investment Authority, prefer retaining the company's coal assets over pursuing a spinoff. This preference has thrown the proposed spinoff into doubt. Glencore expects strong trading profits and is evaluating a potential bid for Anglo American, potentially sparking a bidding war in the mining industry.
Talk of takeover has long swirled around 107-year-old Anglo American, once among the biggest mining companies in the world. A clash of big dirt and high finance suggests that Anglo harbours something worth fighting over https://t.co/Zzvi2oqeZ7 š
BHP and Anglo American are two of the world's largest mining companies. Combined they'd be worth over $180 billion, if a deal closes. It's early days, but... Here's what we know, rumours and how this acquisition could transform the market:
Emboldened by all the attention, Anglo American has rejected BHPās initial bid. Markets expect a more generous offer. Given a string of recent mining mega-deals as the industry reimagines itself for a greener world, they are probably right https://t.co/OVBPQpzYTc š