US EditionBHP abandons Anglo American bid, says its own growth plan is compelling
BHP ended its recent bid to acquire Anglo American, which would have created the largest copper producer with 1.9 million tons annually, after Anglo rejected the offer.
- BHP Group confirmed it is 'no longer considering a combination of the two companies' after talks with Anglo American Plc.
- BHP believes that a combination with Anglo American would have created 'significant value for all shareholders.'
- BHP is focusing on its 'highly compelling potential' for organic growth.
- This marks BHP's second failed bid to take over Anglo American in two years.
77 Articles
77 Articles
Deal OFF | Mining giant BHP drops Anglo American takeover bid
Australian resources giant BHP said on Monday it had dropped a bid to take over British rival Anglo American that would have created the world’s largest miner of copper. Bloomberg News reported on Sunday that BHP, the world’s largest mining company, had approached Anglo with a bid in an attempt to disrupt a merger with Canadian peer Teck Resources. But Anglo knocked back the offer. ‘Significant value’ “BHP Group confirms that it is no longer con…
The demand for copper has exploded in recent years, as this metal is necessary for the manufacture of solar panels, wind turbines, batteries for electric vehicles and consumer electronics. It is also used in military equipment, particularly in the manufacture of electric motors and electronics.
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