BHP has continued to engage in discussions with Anglo's board of directors, but it is no longer looking at combining the two companies, as stated by the Australian company.
The statement reads, "BHP still believes that merging with Anglo American would bring strong strategic benefits and create substantial value for all involved, while BHP remains confident in the potential of its own growth strategy to deliver attractive results."
According to UK regulations, BHP will not be able to make a bid for Anglo for the next six months.
However, BHP has not completely ruled out the possibility of acquiring Anglo in the future, especially if another bidder comes forward or under certain other conditions.
BHP first reached out to Anglo about a possible acquisition in April last year, but its $50 billion offer was turned down.
Just a week later, Anglo rejected three proposals from BHP to split its operations into two separate companies listed in South Africa.
Anglo chose to restructure its business to improve its appeal to investors.
source: bloomberg.com
The statement reads, "BHP still believes that merging with Anglo American would bring strong strategic benefits and create substantial value for all involved, while BHP remains confident in the potential of its own growth strategy to deliver attractive results."
According to UK regulations, BHP will not be able to make a bid for Anglo for the next six months.
However, BHP has not completely ruled out the possibility of acquiring Anglo in the future, especially if another bidder comes forward or under certain other conditions.
BHP first reached out to Anglo about a possible acquisition in April last year, but its $50 billion offer was turned down.
Just a week later, Anglo rejected three proposals from BHP to split its operations into two separate companies listed in South Africa.
Anglo chose to restructure its business to improve its appeal to investors.
source: bloomberg.com