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The BHP (NYSE:BHP) CEO will meet the head of Anglo American Plc (OTCQX:AAUKF) this week at a conference in the U.S. after Anglo rejected the miner’s recent $39 billion offer last month.
BHP (BHP) CEO Mike Henry and his counterpart at Anglo, Duncan Wanblad, are scheduled to speak at the Bank of America Global Metals, Mining and Steel Conference in Miami on Tuesday. The two rival leaders are expected to hold talks offstage at the conference, according to a Daily Mail report on Friday, which cited unidentified sources.
BHP (BHP) is said to be preparing to increase its bid, likely in the region of £40billion ($50 billion), according to the report. BHP is under pressure to raise its offer amid interest in Anglo from rivals Glencore (OTCPK:GLNCY) and Rio Tinto (RIO).
Separately, Bloomberg reported on Saturday that Anglo American (OTCQX:NGLOY) shareholders are pushing the miner to expedite its release of a turnaround plan to present an alternative to the BHP takeover offer. Anglo may release its new strategy at the Bank of America conference this week, according to the report, which cited people familiar with the matter.
Anglo American (OTCQX:NGLOY) investors are eager to learn what the miner plans to do with the diamond business De Beers and the $9 billion Woodsmith fertilizer project underway in northern England, according to Bloomberg.
Prominent activist investor Elliott Investment Management, which is reportedly now one of Anglo’s biggest shareholders, may potentially publicly unveil its views soon, according to the report.
