BHP, Lundin bid $3.25bn bid for Filo to expand copper presence.
Australian Mining giant BHP rebounded from its failure to buy rival Anglo American and announced it would expand its copper interests in South America via a joint venture with Canada’s Lundin Mining which in turn would offer $3.25bn to acquire Filo Corp.
Lundin Mining Corp.
30 July 2024 07:40:46
Source: Sharecast
The joint venture will hold the Filo del Sol and Josemaria projects around the Argentine-Chile border, BHP said on Tuesday.
BHP and Lundin have offered $33 Canadian dollars per Filo share, a 12.2% premium to the closing price on Monday, with BHP stumping up $2.1bn.
A previous attempt to broaden its presence in the copper market collapsed in May when BHP abandoned a $49bn bid to take over Anglo American, which had rebuffed three proposed offers from the world's biggest miner.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.