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mining company BHP Just months after the London-listed miner agreed to a planned merger with a Canadian miner, sources told Reuters on Sunday it had made a new takeover approach to rival Anglo American. tech resources Creating a global heavyweight division focused on copper.
Anglo American declined to comment. BHP did not immediately respond to a request for comment outside of normal business hours.
Bloomberg News earlier reported, citing people familiar with the matter, that BHP had made an offer to Anglo American in recent days, adding that discussions were ongoing and there was no certainty of a deal.
Based on LSEG data, Anglo American’s market capitalization is approximately $41.8 billion, while BHP’s market capitalization is approximately $132.18 billion.
In September, Anglo American agreed plans to merge with Teck in an all-stock deal, making it the second-largest M&A deal in the industry’s history.
The deal comes just over a year after BHP scrapped its $49 billion bid for Anglo. The deal was supposed to increase the Australian mining company’s holdings of copper, a metal seen as essential to the transition to green energy.
Had the deal between BHP and Anglo gone through, the combined company would have become the world’s largest copper producer, with annual output of around 1.9 million tonnes.
The new Anglo Tech Group’s combined annual copper production capacity is expected to be around 1.2 million tonnes, which would still be second only to BHP.
