Overview
- BHP said in an exchange filing it is no longer considering a combination with Anglo American after preliminary talks did not progress.
- The renewed approach was reported in recent days as a mix of cash and stock and landed less than three weeks before the Anglo–Teck vote.
- Anglo reviewed and rejected the new overture, according to people familiar with the matter, and notified Teck of the contact.
- Anglo and Teck are pursuing an all-share, nil-premium merger to create a top‑five copper producer, with shareholder votes on December 9 and regulatory clearance required in multiple countries over 12 to 18 months.
- The episode follows BHP’s unsuccessful 2024 bid for Anglo and highlights major miners’ race to build copper scale driven by electrification demand.