Overview
- BHP has approached Anglo American in recent days about a potential takeover, according to people familiar with the talks, which they say are ongoing with no certainty of a deal; Anglo declined to comment and BHP did not respond outside business hours.
- Anglo agreed in September to merge with Teck in an all-share deal that still requires shareholder approval and regulatory clearances in multiple countries including the United States and China, with reviews expected to take about 18 months.
- Competition for copper is central to the dealmaking, with a hypothetical BHP–Anglo combination producing about 1.9 million metric tons a year versus roughly 1.2 million projected for the proposed Anglo–Teck group.
- BHP abandoned a roughly $49 billion bid for Anglo last year after disagreements over deal structure tied to South African and platinum operations, while Anglo has since pursued asset disposals and a spin-off of Valterra Platinum.
- LSEG data show Anglo valued near $41.8 billion and BHP around $132.2 billion, and reports note executive turnover at BHP with Mike Henry departing and Geraldine Slattery cited as a likely successor.