Massive BHP takeover news…. Rejected

[Hydrogen]

https://www.reuters.com/markets/deals/o ... 022-08-07/

[Babyizzyboo06!]

Thanks for the update on OXL Hydrogen!! And they do not need to come after GGP at 15.5p either!!!!

[lebugue-addick]

This sentence grabbed my attention for obvious reasons:

"The Board (of OZ minerals) had also been advised by BHP that it had accumulated an interest in OZ Minerals shares via derivative instruments amounting to an interest of less than 5 per cent".

[LoggyLogbot]

Hi LA, I'm actually surprised that comment hasn't attracted many replies - it's one of the most eye-opening statements ( for me anyway! ) that I've seen for a while. The phrase 'you learn something every day' has never been so apt.

[mushroomkid]

Nice spot LA. 'Derivative instruments'. Is that a fancy way of saying 'slimey, underhand and under the radar' purchases'?? Glad they got the bid rejected and yes, it does make you wonder what 'derivative instruments' are being employed to manipulate our share.

[Bottle Rocket - Liam]

Hi LA, I'm actually surprised that comment hasn't attracted many replies - it's one of the most eye-opening statements ( for me anyway! ) that I've seen for a while. The phrase 'you learn something every day has never been so apt.

We discussed it a fair bit on telegram, mostly to get to the bottom of what they did.

We took a view that they took shares in company B, which meant they had a holding by proxy in company A.

Bit like NCM taking 5% of Starvest,

Obviously, we could be wrong. - Happy to be educated.

[Hydrogen]

Not sure what you concluded in telegram…

But I conclude the following…. Bhp acquired a 5% position in OZ minerals by stealth tactics.

The idea of them owning the stock via a 3rd party like SVE is flawed IMO as they would have no control over SVE and not be the beneficial owners of record of the Oz minerals stock.

Whatever derivative instrument they have used BhP must have the controlling beneficial ownership

[JerryS]

It’s almost certainly a CFD, a contracts for difference. It’s an otc contract where the bank, broker or mkt maker buys the shares and then does the cfd, transferring the economic benefit to BHP. It’s very very common practice and nothing to get excited about.