{"id":266551,"date":"2025-11-24T15:28:51","date_gmt":"2025-11-24T16:28:51","guid":{"rendered":"https:\/\/www.premium-partners.net\/?p=266551"},"modified":"2025-11-24T18:05:35","modified_gmt":"2025-11-24T18:05:35","slug":"bhp-stunned-as-anglo-rejects-renewed-takeover-bid-ahead-of-teck-resources-tie-up","status":"publish","type":"post","link":"https:\/\/www.premium-partners.net\/fr\/builder\/bhp-stunned-as-anglo-rejects-renewed-takeover-bid-ahead-of-teck-resources-tie-up\/","title":{"rendered":"BHP stunned as Anglo rejects renewed takeover bid ahead of Teck Resources tie-up"},"content":{"rendered":"

This post<\/a> was originally published on this site<\/a><\/p>

<\/p>\n

Tawanda Karombo<\/p>\n

BHP executives were left surprised after Anglo American rejected a fresh acquisition proposal that the Australian mining giant believed offered improved terms and better reflected the value of the London-listed group.<\/p>\n

On Monday, BHP confirmed it had abandoned plans to pursue a combination with Anglo American, whose shareholders are expected to approve the company\u2019s tie-up with Canada\u2019s Teck Resources next month.<\/p>\n

\u201cFollowing preliminary discussions with the Board of Anglo American, BHP Group<\/span> confirms that it is no longer considering a combination of the two companies,\u201d BHP said on Monday.<\/span><\/p>\n

The company, said mining industry sources, had timed its latest offer to disturb Anglo American\u2019s tie up process with Teck Resources.<\/span><\/p>\n

\u201cIt was always clear that BHP would come back for Anglo American sooner than later. They were stunned being rejected and now have to focus on a new strategy pivoting on internal growth and acquisition opportunities as they come because they have the financial muscle for that,\u201d said a senior mining executive in South Africa.<\/span><\/p>\n

BHP itself said that although it believes that a combination with Anglo American would have had strong strategic merits and created significant value for all stakeholders, the company is also \u201cconfident in the highly compelling potential of its own organic growth\u201d strategy.<\/span><\/p>\n

Anglo American and BHP have been doubling down attention and investment on copper. This comes at a time there is deepened merger and acquisition activity in the South African and global copper mining space.<\/span><\/p>\n

BHP lifted up copper production for the half-year to December by 10% to 987 000 tons<\/span> while it was planning to <\/span>top 1.8 million tons for its 2025 full year<\/span>. <\/span><\/p>\n

Anglo American\u2019s <\/span>South African shareholders are set to receive a special dividend of R73 per share<\/span> in addition to other economic benefits after the global miner agreed to a tie-up creating a merged entity with <\/span>Canadian mining group, <\/span>Teck Resources<\/span>.<\/span><\/p>\n

With its share price on the JSE appreciating by 11% to R614.86 year to date, Anglo American is holding its line as it believes it has a higher valuation.<\/span><\/p>\n

\u201cAnglo held its line. Since the last round of talks, its share price has run well ahead of BHP\u2019s, widening the valuation gap and making any new approach harder to justify,\u201d said natural resource expert, Zack Hartwanger, on Monday.<\/span><\/p>\n

BHP shares on the JSE have been weaker by just below 1% in the year-to-date. Both groups traded in the red in the afternoon on the JSE on Monday.<\/span><\/p>\n

John Meyer, an analyst with SP Angel, said <\/span>the 2024 <\/span>rejected approach for a merger from <\/span>BHP, Anglo American <\/span>\u201c<\/span>has progressed plans to simplify<\/span>\u201d<\/span> its operations<\/span>.<\/span><\/p>\n

This follows the demerging of the <\/span>South African platinum operations now operating as Valterra Platinum, the disposal of nickel operations and some of its coal businesses, as well as plans to divest the De Beers diamond business.<\/span><\/p>\n

The planned tie up between Anglo American and Teck Resources will <\/span>merge th<\/span>e two <\/span>companies in a transaction which would create a <\/span>mega <\/span>copper producer by 2027 <\/span>through <\/span>bringing the Chilean mines at Collahuasi and Los Bronces, the Peruvian Quellaveco and Antamina mines and Teck\u2019s Highland Valley operation in British Columbia together.<\/span><\/p>\n

Anglo American has also announced plans to collaborate with Chile\u2019s State-owned copper producer, Codelco, on the joint development of the adjacent Los Bronces and Andina copper mines.<\/span><\/p>\n

Other mining experts said Anglo American had rejected the latest offer by BHP as the valuation gap is still wide, with strategic control of the London-listed company fiercely guarded and protected.<\/span><\/p>\n

\u201c<\/span>As M&A pressure mounts across the resource sector, this standoff could redefine deal<\/span>–<\/span>making power dynamics from London to Sydney<\/span>,\u201d said Ashwin Binwani, founder of private investment firm, Alpha Binwani Capital.<\/span><\/p>\n

BUSINESS REPORT<\/strong><\/p>","protected":false},"excerpt":{"rendered":"

Tawanda KaromboBHP executives were left surprised after Anglo American rejected a fresh acquisition proposal that the Australian mining giant believed offered improved terms and better reflected the value of the London-listed group.On Monday, BHP confirmed it had abandoned plans to pursue a combination with Anglo American, whose shareholders are expected to approve the company\u2019s tie-up with Canada\u2019s Teck Resources next month.\u201cFollowing preliminary discussions with the Board of Anglo American, BHP Group\u00a0confirms that it is no longer considering a combination of the two companies,\u201d BHP said on Monday.The company, said mining industry sources, had timed its latest offer to disturb Anglo American\u2019s tie up process with Teck Resources.\u201cIt was always clear that BHP would come back for Anglo American sooner than later. They were stunned being rejected and now have to focus on a new strategy pivoting on internal growth and acquisition opportunities as they come because they have the financial muscle for that,\u201d said a senior mining executive in South Africa.BHP itself said that although it believes that a combination with Anglo American would have had strong strategic merits and created significant value for all stakeholders, the company is also \u201cconfident in the highly compelling potential of its own organic growth\u201d strategy.Anglo American and BHP have been doubling down attention and investment on copper. This comes at a time there is deepened merger and acquisition activity in the South African and global copper mining space.BHP lifted up copper production for the half-year to December by 10% to 987 000 tons\u00a0while it was planning to\u00a0top 1.8 million tons for its 2025 full year. Anglo American\u2019s\u00a0South African shareholders are set to receive a special dividend of R73 per share in addition to other economic benefits after the global miner agreed to a tie-up creating a merged entity with\u00a0Canadian mining group,\u00a0Teck Resources.With its share price on the JSE appreciating by 11% to R614.86 year to date, Anglo American is holding its line as it believes it has a higher valuation.\u201cAnglo held its line. Since the last round of talks, its share price has run well ahead of BHP\u2019s, widening the valuation gap and making any new approach harder to justify,\u201d said natural resource expert, Zack Hartwanger, on Monday.BHP shares on the JSE have been weaker by just below 1% in the year-to-date. Both groups traded in the red in the afternoon on the JSE on Monday.John Meyer, an analyst with SP Angel, said\u00a0the 2024\u00a0rejected approach for a merger from\u00a0BHP, Anglo American\u00a0\u201chas progressed plans to simplify\u201d\u00a0its operations. This follows the demerging of the South African platinum operations now operating as Valterra Platinum, the disposal of nickel operations and some of its coal businesses, as well as plans to divest the De Beers diamond business.The planned tie up between Anglo American and Teck Resources will\u00a0merge the two\u00a0companies in a transaction which would create a\u00a0mega\u00a0copper producer by 2027\u00a0through\u00a0bringing the Chilean mines at Collahuasi and Los Bronces, the Peruvian Quellaveco and Antamina mines and Teck\u2019s Highland Valley operation in British Columbia together.Anglo American has also announced plans to collaborate with Chile\u2019s State-owned copper producer, Codelco, on the joint development of the adjacent Los Bronces and Andina copper mines.Other mining experts said Anglo American had rejected the latest offer by BHP as the valuation gap is still wide, with strategic control of the London-listed company fiercely guarded and protected.\u201cAs M&A pressure mounts across the resource sector, this standoff could redefine deal-making power dynamics from London to Sydney,\u201d said Ashwin Binwani, founder of private investment firm, Alpha Binwani Capital.BUSINESS REPORT<\/p>","protected":false},"author":1,"featured_media":201950,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-266551","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-builder"],"_links":{"self":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts\/266551","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/comments?post=266551"}],"version-history":[{"count":2,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts\/266551\/revisions"}],"predecessor-version":[{"id":266553,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts\/266551\/revisions\/266553"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/media\/201950"}],"wp:attachment":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/media?parent=266551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/categories?post=266551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/tags?post=266551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}