Now that BHP (NYSE:BHP) is a primary focus of the economic media, every possibility seems to be a target of inquisition, including the possibility of acquiring some assets of BP (NYSE:BP) they're shopping to raise capital to pay for mounting liabilities.
When BHP CEO Marius Kloppers was asked if they were involved with any negotiations with BP for some assets, he refused to comment, saying his primary focus now is on securing the deal for Potash (NYSE:POT).
Kloppers did say on a conference call that "beyond the acquisition of potash, our aspirations to grow the deployment of capital in the natural resources space would be undiminished," seeming to imply a lot of things are on the table.
BHP could acquire BP assets without hurting the company or increasing costs from being downgraded, as they generate a cashflow of $38.6 billion annually, with only $3.3 billion in net debt.
The company has said their goal is to maintain their A credit rating and ongoing dividend policy while they expand the business.
No comments:
Post a Comment