If industry sources are to be believed, mining giant BHP Group Ltd. (NYSE:BHP) (GB:OHN3) is considering raising its initial bid to acquire Melbourne-based OZ Minerals Ltd. This acquisition, if and when completed, could help increase BHP Group’s metal contributions, especially copper and nickel, to the green-energy revolution in the United States and globally.
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It is worth noting that BHP Group had expressed its desire to purchase OZ Minerals for A$8.4 billion (or A$25 per share) in August 2022. The U.S. dollar equivalent of the deal value is $5.6 billion. Back then, OZ Minerals had rejected BHP Group’s offer, finding the value too low for its assets.
The American Depository Shares (ADS) of BHP Group grew 1.8% to close at $51.89 on Monday. BHP Group sports a ‘Perfect 10’ Smart Score on TipRanks, implying that the company has strong potential to outperform the market.
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