“Elliott takes $1 billion stake in Anglo American as miner faces takeover interest”
May 1, 2024
“…The activist’s U.K. arm, Elliott Advisors, in a regulatory filing Friday confirmed after publication that it had a 2.5% interest in Anglo American. The position, which consists of cash-settled derivatives, is worth around £891 million, or roughly $1.1 billion. Anglo American shares were up as much as 5% on the news Friday.
News of the activist’s position comes as the $43 billion, London-based miner faces takeover interest from BHP, a mining giant with worldwide operations. Anglo rejected BHP’s $39 billion takeover offer Friday morning, saying BHP’s offer “significantly undervalues Anglo American and its future prospects.”…”
https://www.cnbc.com/2024/04/26/elliott-builds-anglo-american-stake-as-miner-faces-takeover.html