BHP, an Australian multinational mining, metals and petroleum public company, agreed to acquire OZ Minerals, a mining company based in Adelaide, South Australia, for $6.4bn. "Our proposal represents compelling value and certainty for OZ Minerals shareholders in the face of a deteriorating external environment and increased OZL operational and growth related funding challenges. We are disappointed that the Board of OZL has indicated that it is not willing to entertain our compelling offer or provide us with access to due diligence in relation to our proposal," Mike Henry, BHP CEO. On November 18, 2022, BHP raises proposal price to $6.4bn. On December 22, 2022; BHP makes a $6.4bn binding offer for OZ Minerals.