BHP Withdraws from Anglo American Takeover Bid After Rebuff

BHP's chairman confirms the company is focusing on new growth opportunities following failed acquisition attempts.

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.