In recent months, Elliot Management has invested nearly $1 billion in the mining corporation Anglo American, as reported by Bloomberg. This investment posits Elliot as one of the primary shareholders in Anglo American.
This news follows the mining company's refusal of a $39 billion takeover bid from BHP Group Ltd., on the grounds that it considerably undervalued Anglo American and its future potential.
Chairman Stuart Chambers, during the company's dismissal, expressed that copper, which comprised roughly 30% of Anglo American's total production, combined with well-planned and value-adding growth opportunities in copper and other structurally attractive products, would ensure increased value for shareholders in future years.
At the moment, the stock of Anglo American is on an upward trend, increasing by 3.57 percent to 2,651 pounds, up from the previous close of 2,560 on the London Stock Exchange.
