Anglo American copper assets worth $35 billion — report

BHP’s (ASX, LON, NYSE: BHP) bold move last week to approach Anglo American (LON: AAL) with an unsolicited, $39 billion takeover offer, has as main objective to grab the target company’s copper assets.

Analysts estimate that the coveted operations, which have carried the weight of Anglo American’s balance sheet in recent years, are worth at least $35 billion. The figure, only $4 billion lower than BHP’s offer for the whole company, factors in the year-to-date rally in copper equities and a 30% control premium...