BHP, the world leader in the field of mining, has submitted an offer, the largest of its kind, worth $39 billion, to acquire its British competitor Anglo American. If this deal is completed, it will become the largest acquisition deal in the history of the mining sector.

BHP, which is headquartered in Melbourne, announced in its capitalization statement that it valued Anglo American shares at 25.08 pounds sterling (equivalent to 31.40 dollars) per share, bringing the total value of the company to about 31.1 billion pounds sterling (or 38.9 million pounds). Through this offer, the company aims to enhance BHP’s copper resources, a strategic metal that is witnessing increasing demand thanks to the world’s trend towards renewable energy.

Anglo American has not yet announced any final decisions, and BHP has indicated that there is no “confirmation” for it that would allow it to submit an official offer, knowing that the deadline for submitting the official offer ends on May 22.

After the offer was announced, Anglo American shares saw a 16.10% jump in value on the London Stock Exchange, reflecting market optimism about the move, according to analysts at CNN.

However, analysts point out that there may be regulatory risks to the deal; Since BHP is currently the second largest copper producer in the world, while Anglo American is ranked ninth; Which means that the acquisition may attract the attention of global antitrust authorities. Anglo American is one of the largest companies listed on the London Stock Exchange, and there are fears that the acquisition may lead to a mass exodus from the market.

BHP has been seeking to increase its copper production for some time through this deal and others. Last year, it acquired its Australian competitor, OZ Minerals; To expand its access to copper, which is used in many renewable energy technologies, such as solar panels and electric vehicles, as well as in the electrical grid industry, a metal whose price on the London Metal Exchange has risen by more than 13% since the beginning of the year, approaching $10,000. per metric ton; To record its highest level in about two years.