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打造銅業巨無霸!必和必拓考慮提高對英美資源的收購報價
格隆匯 04-28 15:45

全球礦產行業又將迎來一次大併購?

在此前的收購要約被拒後,澳大利亞的礦業巨頭必和必拓正在考慮提高報價,以收購英美資源。

消息人士稱,必和必拓正在討論未來幾周對英美資源的協定提案。知情人士還稱,必和必拓還在與其主要股東討論上述交易的優點,並試圖説服他們支持。

如果收購成功,這筆交易將成為全球今年最大的礦業收購案,並躋身行業有史以來十大交易之一,必和必拓也將控制全球約10%的銅礦資源。

英美資源拒絕收購提案

此前週四,必和必拓提議,以每股25.08英鎊的價格收購英美資源,較其週三收盤價溢價31%,合計花費310億英鎊(約390億美元)。

根據協議,英美資源需要先將南非鉑金和鐵礦石公司的控股權剝離給股東,然後再被必和必拓收購。 

在收購消息公佈的前幾個小時,英股英美資源尾盤飆升,引起了市場對消息提前泄露的質疑。

不過,週五,英美資源拒絕了必和必拓收購要約,稱其嚴重低估了公司的未來前景。

一些投資者認為,英美資源的每股價值約30英鎊,高於必和必拓之前提議的收購價格。

兩年前,英美資源的股價接近43英鎊/股,但在重大運營和市場挫折的打擊下,股價已有所下跌。上週五,英美資源的股價收於26.43英鎊/股。

同時,英美資源還拒絕了剝離南非子公司的提議,並表示這對其投資者沒有吸引力。 

英美資源董事長Stuart Chambers表示:“提議也非常沒有吸引力,造成了巨大的不確定性,執行風險幾乎全部由英美資源、其股東和其他利益相關者承擔。”

Chambers稱:“銅佔英美資源總資產的30%,且受益於銅和其他有吸引力的產品有序增值,董事會相信股東將從中受益。

長期以來,英美資源擁有令同行羨慕的南美銅礦業務。不過,集團業務涉及頗廣,包括從鉑金到鑽石等其他大宗商品,且在南非進行了深度投資,這就使得潛在的收購者望而卻步。

接下來,根據英國收購規則,必和必拓必須在5月22日之前向英美資源提出正式要約。

銅價有望繼續上升

碳中和的趨勢下,全球對銅的需求增加,像必和必拓這樣的礦業公司正在尋求未來幾年增加銅的供應。

今年以來,受美聯儲降息預期、供需短缺的影響,銅價持續上升。

週五,倫敦金屬交易所 (LME) 的三個月期銅一度至每噸1萬美元,為2022年4月以來的首次突破。

展望未來,許多市場人士預計,銅礦供應短缺將導致價格飆升。 

花旗預計,今年銅需求將超過供應,未來三年將出現100萬噸的缺口 ;摩根士丹利預計今年將出現70萬噸的缺口。

貝萊德世界礦業信託公司投資組合經理Olivia Markham 表示,銅要達到每噸1.2萬美元才能刺激對新礦山的大規模投資。

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