What's happened
BHP Group has proposed a £31.1 billion takeover of Anglo American to become the world's largest copper miner. Anglo American rejected the offer, citing it as 'highly unattractive' and 'opportunistic'. Meanwhile, Ocado's shareholders approved a potential £15 million bonus deal for CEO Tim Steiner, and Darktrace agreed to a $5.3 billion sale to US private equity firm Thoma Bravo.
Why it matters
The proposed takeover bid and subsequent rejection by Anglo American, along with the approval of a significant bonus deal for Ocado's CEO and Darktrace's sale to a US firm, highlight the shifting landscape of UK-listed companies and the potential impact on the mining and technology sectors.
What the papers say
The Guardian reports that BHP Group's proposed takeover of Anglo American could lead to the creation of the world's largest copper miner, while The Independent highlights the rejection of the offer by Anglo American, citing it as 'highly unattractive'. The Independent also covers the approval of a potential bonus deal for Ocado's CEO. Additionally, The Guardian discusses Darktrace's sale to US private equity firm Thoma Bravo, raising concerns about UK-listed firms leaving for the US.
How we got here
BHP Group's proposed takeover of Anglo American comes amidst a surge in copper demand due to the transition to clean energy technologies. Anglo American's rejection of the offer reflects concerns about the terms and valuation of the deal. The approval of a significant bonus deal for Ocado's CEO and Darktrace's sale to a US firm underscore the evolving landscape of UK-listed companies and their strategic decisions.
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