BHP Withdraws Interest in Anglo American Acquisition

Australian mining giant BHP Group has withdrawn its latest interest in acquiring Anglo American, the London-listed miner, following preliminary discussions with the company's board. The announcement, made on Monday, ends a brief revival of takeover talks that could have reshaped the global mining landscape, particularly in copper production.

BHP, the world's largest listed mining company by market value, confirmed in a regulatory statement that it is no longer pursuing a combination with Anglo American. The firm expressed confidence in its internal growth plans despite believing a merger would offer strategic benefits and value to stakeholders. This decision comes just weeks before Anglo American shareholders are scheduled to vote on a proposed merger with Canada's Teck Resources, a deal valued at around $40 billion that would create one of the world's top copper producers.

The retreat follows Anglo American's rejection of BHP's renewed approach, which sources close to the matter described as simpler than previous proposals but still insufficient compared to the Teck partnership. BHP's earlier bids, including a near-$39 billion offer in May 2023, failed amid disagreements over...