BHP drops bid for Anglo American
BHP abandoned a second bid in as many years to take over Anglo American.
This means Anglo’s merger with Canadian-based Teck Resources, which ranks among the biggest in the mining industry, remains on track.
“Whilst BHP continues to believe that a combination with Anglo American would have had strong strategic merits and created significant value for all stakeholders, BHP is confident in the highly compelling potential of its own organic growth strategy,” the world’s largest miner said in a statement.
Anglo and Teck shareholders are set to vote on the $60 billion merger between the he two companies on 9 December 2025. The merger is also subject to regulatory approval in, among others, China and the US.
In May 2024 BHP scrapped a R49 billion bid for Anglo, which would have boosted its copper holdings.
