0319 GMT - Shares of BHP have outperformed those in Anglo American so far this year, leading Jefferies analysts to wonder: Could a takeover be back on the table in 2025? BHP unsuccessfully tried to buy its rival a year ago, but the rationale for a deal--its relentless pursuit of copper--still stands, the analysts say. They reckon Anglo is "arguably on the cusp of becoming a more compelling target," given a significant part of its own restructuring should soon be done. "An argument against a move on Anglo could be risk of near-term earnings dilution, but BHP may be willing to do a deal that is perceived to be dilutive in the short term to become a bigger copper miner and better company for the long term," the analysts say. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
April 08, 2025 23:19 ET (03:19 GMT)
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