🚨 🚨 BHP will have to raise the price of its Anglo American offer to get the friendly transaction it needs, given the firm’s unpopularity in South Africa. The question is whether it also drops the condition that Anglo do the splits. A cleaner proposal could give BHP a higher chance of getting hold of the real prize: the copper business. Jefferies research reckons the Platinum And Kumba iron ore mines are worth around 250 pence per Anglo share. And BHP could take time to dispose of the assets it didn’t want in an orderly way, avoiding fire-sale prices
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