Overview

• BHP has decided not to renew its bid for Anglo American after three unsuccessful takeover attempts earlier this year.
• The decision follows a six-month freeze on making another approach, as mandated by UK takeover rules.
• BHP's chairman, Ken MacKenzie, stated that the company is now concentrating on other growth prospects, including a recent joint venture with Lundin Mining.
• Anglo American's shareholders rejected BHP's previous offers, which included plans to divest some of Anglo's South African assets.
• Shares of Anglo American fell by 3.5% following BHP's announcement at its annual general meeting.