Anglo American shares rise on report Glencore may make rival offer
By Steve Goldstein
Shares of Anglo American rose on Friday after a report that Glencore was considering making a rival offer for the mining company.
Reuters reported, citing two unnamed sources, that Glencore has been having internal discussions about making such a bid, after BHP's $39 billion proposal was rejected.
BHP has until May 22 to make a formal bid.
Anglo American shares (UK:AAL) rose 3% to 2750 pence, its highest level in more than a year. Glencore shares (UK:GLEN) slipped 2%, while BHP (UK:BHP) (AU:BHP) (BHP) was steady.
Ahead of the report, analysts at Liberum had raised their target price on Anglo American to 2750 pence. They had said Rio Tinto (UK:RIO) was the most likely "interloper."
-Steve Goldstein
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
05-03-24 0410ET
Copyright (c) 2024 Dow Jones & Company, Inc.-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Q4 Stock Market Outlook: Where We See Opportunities for Investors
-
Markets Brief: Non-Farm Payrolls in the Spotlight Again
-
6 Top-Performing Large-Growth Funds
-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
10 Top-Performing Dividend Stocks of Q3 2024
-
33 Undervalued Stocks
-
Communication Services: Cable’s Broadband Dominance Isn’t as Strong as It Once Was
-
Technology: Strength Continues, With Software Presenting the Best Buying Opportunities
-
Best- and Worst-Performing Stocks of Q3 2024
-
Top Stocks to Own From the Best Fund Managers
-
2 Cheap Stocks Top Managers Have Been Buying
-
The 10 Best Companies to Invest in Now