BHP Group has abandoned its pursuit to acquire Anglo American in a deal worth $49 billion. The decision came after Anglo American rejected BHP's request for more time to discuss the takeover offer, leading BHP to walk away from what would have been the biggest mining deal in over a decade. BHP's CEO, Mike Henry, misjudged the difficulty of pushing Anglo American to divest South African assets. Despite the failed bid, BHP avoided overpaying and can potentially revisit the deal if Anglo American's breakup plan falters.
WATCH: From BHP abandoning its $49 billion takeover plan for Anglo American to investors betting big on Elon Musk's xAI, here are this week’s top stories in business and finance https://t.co/ynWcWdHHoN
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How BHP’s fractious pursuit of Anglo American unravelled https://t.co/OqOWlG7oBj
Days after miner BHP launched its takeover bid for rival Anglo American in April, the CEOs of both headed for South Africa, where a condition to divest Anglo's local platinum and iron ore assets was causing a political storm. https://t.co/T08XXIlo8s
Heard on the Street: BHP-Anglo deal is off—the mining land grab is still on https://t.co/vXJmUJWihA
Time up: #BHP gives up plan to take over its rival #AngloAmerican https://t.co/OOhdhkgFoy
🔵 HOW BHP'S FAILED SIX-WEEK PURSUIT OF ANGLO AMERICAN UNFOLDED Full Story → https://t.co/cLFkBnclY1 Miner BHP Group <https://t.co/C2r1ijIl9c> walked away from its $49 billion plan to take over rival Anglo American on Wednesday after its last-ditch request for more time was…
⚠️ https://t.co/D1ParisELS'S CBANK GOVERNOR ON BHP BID FOR ANGLO: **WE HAVE NOT RECEIVED ANY APPLICATION, IF THERE WAS AN AGREEMENT BETWEEN COMPANIES WE WOULD HAVE RECEIVED ONE **WE DO NOT HAVE A NUMBER ON POTENTIAL CAPITAL OUTFLOWS **GIVEN THAT THAT THE ENGAGEMENT IS…
BHP shuts up - for now. In line with the UK takeover regime’s "put up or shut up" rule, BHP, on May 29, opted for the latter and abandoned its goal of acquiring Anglo American – at least, for now. Read on this link for free:👇https://t.co/KSuDJ6j2OI
BHP Group drops its bid for Anglo American, ending plans to create a global mining giant https://t.co/caVgg686iE
Anglo American, which has dismissed BHP’s offer as ‘highly complex and unattractive’, has proposed an alternative plan to break itself up, which includes spinning off two of its South African businesses https://t.co/Ovm463d6ME https://t.co/TfjMXXM3jX
Investors relieved BHP walked from $49 billion Anglo takeover deal https://t.co/qVhsJiFeAA
British miner Anglo American PLC rejected a last-minute request from BHP Group to extend takeover talks on Wednesday, even though the Australian rival has offered concessions to help sweeten its latest offer of £38.6 billion ($49.3 billion). https://t.co/4GmK9D3Aya
BHP Shareholders Back Decision to Walk Away From Anglo Bid Shareholders, analysts sanguine after miner’s approach falters A tie-up would have created the world’s largest copper company https://t.co/WF5Plg9PTH
BHP walks away from £39bn attempt to take over mining rival Anglo American https://t.co/Xrt1R5txar
BHP investors support decision to walk away from Anglo deal https://t.co/3eFta829xu
Unable to press his target to the negotiating table, BHP Group boss Mike Henry on Wednesday walked away from a bold bid to buy smaller rival Anglo, cheering investors eager to see proof the miner will not pursue deals at any cost https://t.co/jAX54Dq2pX
Anglo American forced BHP's hand to abandon a takeover bid, but the Australian giant may yet make a comeback once the Amplats unbundling has started, an analyst says. https://t.co/TfLC7LDEYt
BHP Group has decided against making a firm offer for Anglo American. It's now walking away for now from what would have been the biggest mining deal in over a decade. @ClaraDFMarques reports https://t.co/op3gE5IikJ https://t.co/FH2UNUOGlV
BHP shareholders still hopeful of Anglo deal despite rebuff https://t.co/MpPsZrHQpA
WATCH: Mining company Anglo American has rejected BHP Group's last-ditch request for more time to discuss a $49 billion takeover offer https://t.co/FQBB6vjKN8 https://t.co/RhEJKNHQcV
Mining company Anglo American has rejected BHP Group's last-ditch request for more time to discuss a $49 billion takeover offer https://t.co/kpJAzSnoum https://t.co/024QSjFh66
BHP has abandoned its $74bn takeover bid for Anglo American, with the Australian giant walking away in the final minutes of a six-week pursuit, after its rival rejected a request to extend the UK regulator deadline on Thursday morning. Read more: https://t.co/j1IZ5EJ8B1 https://t.co/0GBnXOVR4S
Breakingviews - Failed Anglo bid is net negative for BHP CEO https://t.co/wtRJrStzz9 https://t.co/wtRJrStzz9
From Breakingviews - Breakingviews - Failed Anglo bid is net negative for BHP CEO https://t.co/B2lzbziWQV https://t.co/B2lzbziWQV
BHP Group's five-week pursuit of its small rival Anglo American is likely over after the Australian mining company's request for more time to discuss a takeover was rejected. More here: https://t.co/FQBB6vjKN8 https://t.co/gY812LlaMh
BHP Group's five-week pursuit of its small rival Anglo American is likely over after the Australian mining company's request for more time to discuss a takeover was rejected https://t.co/kpJAzSnoum https://t.co/ItkIUrVbGw
BHP failed to hook Anglo by chasing a trophy asset for a bargain price, writes @hughes_chris https://t.co/g0RLrrqBFb
“Anglo American’s management team, supported by the Board, is fully focused on delivering the plans it has set out to accelerate value delivery, and doing so at pace,” its chairman adds. BHP gave up on making an offer earlier today
Anglo American chairman says co has “set out a clear pathway to accelerate delivery of its strategy and to unlock significant value for its shareholder,” as BHP walks away from making a deal.
BHP has ditched its $47 bln attempt to buy Anglo American. CEO Mike Henry misjudged the difficulty of pushing AA to divest South African assets. But he avoided upsetting investors by overpaying, and if his target’s breakup plan falters he can try again! My view for @Breakingviews https://t.co/ZGv7Ge7U50
Failed Anglo bid is net negative for BHP CEO - https://t.co/1YiS0T2yx3 - @KarenKKwok https://t.co/QrF2XDtmzD
BHP walks away from $49bn Anglo American deal https://t.co/tsyyav8SCl