Elliott Investment Management Acquires $1 Billion Stake in Anglo American Amidst Takeover Rejection

Elliott Investment Management has reportedly acquired a substantial stake of approximately $1 billion in Anglo American, as per Bloomberg News. This strategic move comes at a time when Anglo American has just rejected a 31.1 billion pound ($39 billion) takeover bid from rival miner BHP Group.

Anglo American, a major player in the mining industry, stated that BHP's proposal significantly undervalued the company and its future prospects. The London-listed miner emphasized its robust outlook and potential, which they believe were not adequately reflected in the offer from BHP.