BHP Abandons Anglo American Takeover Bid

BHP Group withdraws takeover offer for Anglo American, focusing on existing portfolio instead. BHPs renewed interest in Anglo American highlights industrys growth and scale drive, particularly in copper sector. Anglo American and Tecks merger vote approaching, BHPs shares rise slightly before paring gains. BHPs initial proposal required partial breakup, recent plan more simplified due to Anglo Americans divestment of South African platinum business. BHPs strategic direction questioned, abandonment of deal potentially welcomed by industry due to complexity concerns.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.