Elliott Investment Management has built a roughly $1 billion stake in Anglo American Plc, the UK-listed miner that's received a takeover approach from Australia's BHP Group Ltd., people with knowledge of the matter said.
The activist hedge fund led by Paul Singer amassed the holding over recent months, the people said, asking not to be identified discussing confidential information. The size of the stake puts Elliott among Anglo American's 10 biggest shareholders, data compiled by Bloomberg show.