Original article by Brad Thompson
The Australian – Page: 13 & 16 : 27-Nov-24

Anglo American’s deal to sell its coking coal mines in Queensland will boost its balance sheet ahead of the looming expiry of the embargo on a new takeover bid from BHP. Peabody Energy will pay $US3.8bn ($5.8bn) for the coal assets, well above market expectations that the mines would fetch around $US2.8bn. RBC Capital analyst Marina Calero says the deal will also increase shareholders’ confidence that Anglo American will be able to carry out its restructuring plan. BHP will be free to make a fresh bid for Anglo American from late November, under the UK’s takeover laws.

CORPORATES
ANGLO AMERICAN PLC, PEABODY ENERGY CORPORATION, BHP GROUP LIMITED – ASX BHP