ASX Mining Share Surges as Anglo American Takeover Looms
BHP Group Ltd ( ASX: BHP ) shares are experiencing significant movement as the deadline for their takeover bid of Anglo American (LSE: AAL) approaches. Closing at $44.89 on Friday, BHP shares surged by 2.2% to $45.87 in Monday morning trade. This gain is notable as the S&P/ASX 200 Index (ASX: XJO) saw a rise of just 0.5% in the same period. The uptick is driven by increasing copper and iron ore prices, aligning with the impending deadline of BHP's takeover bid, set for 5 pm UK time this Wednesday (early Thursday morning Australian time). Image Credit: Pexels UK Regulations and BHP's Strategic Moves Under UK regulations, BHP must engage in two-way negotiations with Anglo American to extend the deadline past May 22. This extension could allow more time to finalize an agreement. Alternatively, BHP might issue an unconditional offer, free of conditions, to expedite the process. Background on the BHP-Anglo American Takeover Bid On April 26, BHP, a leading ASX mining stock , ann