BHP withdraws Anglo American takeover bid

BHP Group Ltd announced on November 24, 2025, that it is no longer considering a combination with Anglo American plc following preliminary discussions. The decision marks the end of a potential significant merger in the mining sector.

Despite believing in the strong strategic merits and value creation potential of the combination, BHP is now confident in the "highly compelling potential of its own organic growth strategy." This statement is subject to Rule 2.8 of the UK City Code on Takeovers and Mergers, with specific circumstances outlined under which the statement could be set aside, including agreement from Anglo American's board or a third-party offer.

Financial advisory services for BHP were provided by Lazard & Co., Limited, UBS AG London Branch, UBS Securities Australia Limited, and Barclays Bank PLC. The announcement emphasizes BHP's commitment to its current strategic direction.