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BHP is the world’s biggest miner by market value. william west/Agence France-Presse/Getty ImagesBHP BHP 0.75%increase; green up pointing triangle Group said it wouldn’t pursue a takeover of Anglo American AAL 0.92%increase; green up pointing triangle following new talks, shutting the door on a deal that could have turbocharged its copper business and helping to clear the way for its U.K. rival to close a merger with Teck Resources.
Melbourne, Australia-based BHP first approached London-listed Anglo American about a possible takeover in April last year, arguing that a combination of the companies’ prized copper mines and other operations would have significant benefits.
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