Elliott Management’s $1 billion Stake Boosts Anglo American as Company Rejects BHP Takeover Offer

In the past few months, Elliott Management has accumulated a substantial $1 billion stake in mining company Anglo American, according to an individual familiar with the matter who spoke to CNBC. As a result of this news being announced, shares in Anglo American have risen by 5%. This revelation comes at a time when Anglo American is facing takeover interest from BHP Billiton, another global mining conglomerate. However, on Friday morning, Anglo American rejected an offer worth $39 billion made by BHP Billiton as the former’s CEO believes it undervalues both his company and its future potential. This is a developing story; please check back for further updates in due course. Meanwhile, representatives from Anglo American have declined to comment on this matter at present time.