BHP coy on Glencore approach

By Mitchell Neems

BHP Billiton has declined to comment on whether reports Glencore has lobbed a formal offer for the mining giant's Nickel West business are accurate.

The newspaper reports Glencore is aiming to capitalise on the lack of bidding interest in the nickel assets, as well as BHP's well-known desire to offload the operations to justify its lowball bid.

Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website.

The West Australian reports Glencore has made an offer that values the local nickel assets at between $190 million and $230m.

Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report.

BHP had once hoped to offload the the Nickel West business through a trade sale at a price of between $500m and $800m.

Read more here: Business Spectator


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