BHP’s £39bn takeover bid for Anglo American has collapsed after a frenzied six-week pursuit.
In a last day of brinkmanship, BHP called for an extension to talks, which Anglo rebuffed, before the Australian mining company finally abandoned its takeover attempt minutes before a UK deadline to make a binding offer or walk away.
“While we believed that our proposal for Anglo American was a compelling opportunity to effectively grow the pie of value for both sets of shareholders, we were unable to reach agreement,” BHP chief executive Mike Henry said in a statement on Wednesday.
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