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BHP
BHP ends Anglo American takeover talks, reinforcing its copper strategy and organic growth plans as commodity prices hold firm.
(AI video summary)
This video was created on 24 November 2025 for IG audiences by ausbiz.
ASX code: BHP
BHP ends Anglo American pursuit after discussions stall
BHP confirmed it will no longer pursue a combination with Anglo American following recent discussions. The global miner stated that while a merger would have delivered strategic benefits and significant shareholder value, it remains committed to its highly compelling organic growth pipeline.
This decision comes after BHP’s initial bid last year to acquire Anglo American for US$49 billion, which was rejected. Anglo American currently has an offer from Teck Resources on the table, though that deal also appears unlikely to close in the near term.
Copper demand drives strategy
Copper prices have surged 25% since the initial Anglo bid, reinforcing copper’s importance. Analysts note BHP is the world’s largest copper miner, while iron ore has held firm. A target price of $45 is set, with BHP historically trading between $40 and $50.
Investment outlook
While BHP has walked away from Anglo American for now, analysts suggest the miner could revisit acquisition opportunities in the future. For now, its focus remains on organic growth and strengthening its copper footprint amid rising global demand.
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