JPMorgan warns that a successful BHP takeover of Anglo American could cause a $4.3bn outflow from South Africa, impacting the rand currency.
JPMorgan warns that a successful BHP takeover of Anglo American could trigger a $4.3bn outflow from South Africa, potentially weakening the rand currency. If Anglo distributes its South African iron ore and platinum holdings to shareholders as part of the deal, index funds may sell the unbundled stocks, causing the outflow. Anglo has rejected BHP's $49bn bid but agreed to discuss it further.
May 27, 2024
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