BHP has pulled back from a last-ditch effort to buy Anglo American and bolster its dominance in copper, just two weeks before shareholders at Anglo and Canada's Teck Resources were set to vote on a $US60 billion tie-up. BHP said it was no longer pursuing a potential combination with Anglo after preliminary discussions with Anglo's board, in a release to Australia's securities exchange after news broke of the talks late on Sunday. "Frankly in current markets, it's hard to see the right combination of the commodities that we like, the asset quality that we like, at a price where we can still unlock attractive value for BHP shareholders," Henry said on a results call.
Author: Stephen Letts
Published at: 2025-11-23 20:18:46
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