BHP Makes Offer for Rival Anglo American in Potential Mining Mega Deal

By Ben Otto and David Winning

Mining giant BHP has offered to buy Anglo American, a long-time rival with a market capitalization of about $35 billion, in a potential megadeal that could reshape the global mining industry.

Anglo American said Thursday that it had received an unsolicited, non-binding combination proposal from BHP. The proposal, which Anglo American called highly conditional, comprises an all-share offer for Anglo American.

Anglo American said its board is currently reviewing the proposal with advisers.

Write to Ben Otto at [e-mail]

(END) Dow Jones Newswires

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