https://www.theglobeandmail.com/
BHP Group Ltd. BHP-N, the world’s biggest mining company, is seeing its megamerger proposal with Anglo American PLC fall apart, with the smaller company rejecting BHP’s call to extend the takeover talks.
Anglo’s rejection almost certainly kills BHP’s proposal to put the two companies together, which would have created the world’s biggest producer of copper, a metal considered critical to the transition to a low-carbon economy. Only a few days ago, it seemed the two sides were on the verge of an agreement.
While BHP has the option of converting its all-share proposal to a hostile takeover attempt, no analyst expects such a move. BHP, led by Canadian chief executive officer Mike Henry, has shied away from hostile deals since two previous unfriendly attempts, including one for fertilizer company Potash Corp. of Saskatchewan, in 2010, went nowhere.
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