US EditionBHP abandons Anglo American bid, says its own growth plan is compelling
BHP’s renewed bid aims to surpass Anglo American-Teck merger, potentially creating the world’s largest copper producer with 1.9 million metric tons annually, Bloomberg reported.
- BHP Group has made a renewed attempt to acquire Anglo American, according to a source familiar with the matter.
- Anglo American declined to comment on the overtures from BHP Group, which have been reported by Bloomberg News.
- Anglo American agreed to merge with Teck in September, marking the sector's second-biggest M&A deal ever.
- If the BHP and Anglo deal had proceeded, the combined entity would have been the world's largest copper producer with a production of around 1.9 million metric tons.
76 Articles
76 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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