BHP's miner-measuring contest

Anglo American has revealed production cuts to bring costs down (Anglo American/PA)
Anglo American has revealed production cuts to bring costs down (Anglo American/PA)

A whopping £31 billion-sized takeover offer for Anglo American got slapped on the table this week under BHP CEO Mike Henry’s plans to create the Biggest Miner In The World.

 

Who’s behind this massive matcho miner-measuring deal? Henry has recruited a team of eight financial advisers from Barclays and UBS. All of them are men.

 

But that’s OK though, because to look through the deal, Anglo CEO Duncan Graham Wanblad has hired eight men of his own as financial advisers from Goldman Sachs, Morgan Stanley and Centerview Partners…plus one woman from Centerview, who seems to be the only woman involved in the deal.

 

Banking is still very much a man’s world, it would appear – and it’s not getting any better. As the Standard reported earlier this month, 11 out of 18 of the biggest banks in the UK saw the median bonus gap widen between men and women this year compared to last year.

 

There has been much fury directed at the Garrick Club for its decades-long refusal to treat women as equals. It seems there is a much bigger club in Canary Wharf and the Square Mile that is doing precisely the same thing.

 (Evening Standard)
(Evening Standard)

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