BHP abandons a last approach to Anglo American

BHP said it was no longer considering a combination with Anglo after preliminary talks with Anglo’s board, two weeks before the vote on Anglo’s merger with Teck. BHP had walked away from a $49bn bid for Anglo in May 2024. UK takeover rules now bar it from bidding again for six months.

Why it matters. A late rival approach tests whether a target’s board will stick with an agreed merger.

Source

Mining Weekly

In the course

Module 14: Case study: BHP and Anglo American