May 03, 2024 15:19 GMT
Anglo American (Baa2/BBB): No Other Bidders?
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Potentially positive for AALLN spreads, with BHP a stronger outcome than Glencore.
• Bloomberg reports Rio Tinto and Glencore may refrain from bidding against BHP and may look to pick up disposal assets instead.
• The copper assets are the crown jewels for all interested parties here but Glencore could probably have a more flexible approach to other assets than Rio.
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