Overview
- BHP said it held preliminary talks with Anglo in recent days but is no longer considering a merger, after Anglo reviewed and rejected the overture.
- People familiar with the matter said the latest approach mixed cash and stock and was simpler than last year’s $49 billion bid that sought South African spin‑offs.
- Anglo and Teck remain scheduled to ask shareholders on December 9 to approve their all‑share tie‑up to create a copper‑focused group worth about $60 billion.
- The Anglo‑Teck deal would still require extensive approvals across jurisdictions such as the US, China and Canada, with reviews often estimated at 12–18 months.
- Under UK takeover rules BHP now faces a six‑month cooling‑off period, as it emphasizes organic growth while major miners compete for high‑quality copper assets.