A successful bid by BHP for Anglo American would further “hollow out” the London stock market and would strip the FTSE 100 share index of one of its leading constituents, analysts have warned.
Anglo has a market value of about £34 billion and is the 17th biggest listed company in the FTSE 100 after its latest share price rise.
A deal would leave Anglo subsumed into the Sydney-listed BHP, which itself left the FTSE 100 in 2022 after abandoning its dual listing.
Takeovers by foreign bidders and listing defections have left the City and the Treasury extremely concerned that London is losing its status as one of the world’s primary equity markets. CRH, the construction materials group, Flutter Entertainment, the bookmaker behind Paddy Power
