BHP Abandons Bid for Anglo American Following New Talks
By Rhiannon Hoyle
BHP Group said it will not pursue a takeover of Anglo American following new talks, as its U.K. rival advances plans to merge with Teck Resources to create one of the world's largest copper producers.
Melbourne, Australia-based BHP failed in a $50 billion bid to buy Anglo last year that was aimed at bolstering its own exposure to the metal. BHP is the world's biggest miner by market value.
In a statement Monday, BHP said it "is no longer considering a combination of the two companies" following initial talks with Anglo's board.
"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," BHP said.
To be sure, the company said it could change its mind should a third party make a bid for Anglo American, or under a few other circumstances.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
November 23, 2025 17:23 ET (22:23 GMT)
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