Mining giant BHP has walked away from a last-ditch attempt takeover bid for Anglo American, parent company of De Beers.
It announced on Sunday (23 November) that it was “no longer considering a combination of the two companies”.
Melbourne-based BHP made hostile bids for Anglo in April and May 2024, both of which failed.
The move prompted loss-making Anglo to start streamlining its operations, to divest some unprofitable activities, including its diamond division, De Beers and to focus on copper and other money-making assets.
Anglo had hoped to complete the sale of De Beers by the end of this year, but despite intense interest, from the Botswana government among others, that has yet to happen.
BHP renewed its bid primarily to disrupt Anglo American’s planned $53 billion merger with Canadian miner Teck Resources, which is expected to go ahead on 9 December
Source: dcla
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