{"id":113988,"title":"FTSE 100 reaches new record high with potential £31.1 billion mining mega-merger","publisher":"Share Talk","author":"sharetalk","published":"2024-04-25T11:21:21+00:00","modified":"2024-04-25T15:47:54+00:00","canonical_url":"https://www.share-talk.com/ftse-100-reaches-new-record-high-with-potential-31-1-billion-mining-mega-merger/","markdown_url":"https://www.share-talk.com/ftse-100-reaches-new-record-high-with-potential-31-1-billion-mining-mega-merger.md","json_url":"https://www.share-talk.com/ftse-100-reaches-new-record-high-with-potential-31-1-billion-mining-mega-merger.json","category":"B2B","categories":["B2B","Business & Support Services","Mining"],"tags":["Anglo American","AstraZeneca","Barclays","BHP Group","COPPER","FTSE 100","London","miner","Unilever"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/12/mining-9-dec-23.jpg?fit=1200%2C800&quality=89&ssl=1","format":"news","language":"en-GB","content":"British mining giant Anglo American has propelled the FTSE 100 to a new record high after announcing it is “reviewing” a takeover proposal from its larger Australian competitor, BHP.\n\nAnglo American’s shares soared by as much as 13.6%, increasing its market value by £3.7 billion, and driving the UK’s premier stock index up by as much as 0.7% to a new peak of 8,098.14.\n\nBHP’s bid values the London-listed mining firm, owner of the De Beers diamond brand, at £31.1 billion. However, today’s surge in share price suggests the company’s valuation could be nearly £34 billion.\n\nThe proposed acquisition, which has a deadline of May 22, would establish the world’s largest copper miner, controlling approximately 10% of the global supply.\n\nhttps://twitter.com/Share_Talk/status/1783455628360356248\n\nAnglo American’s prized copper assets, including significant operations in Chile and Peru, are believed to be a major factor in BHP’s interest.\n\nSusannah Streeter, head of money and markets at Hargreaves Lansdown, commented that the deal might “send a fresh chill through the City of London,” expressing concerns that this could be just the beginning of a trend of major companies leaving the exchange."}