Australian miner BHP Group has released a statement saying it is abandoning a potential takeover of British mining giant Anglo American.
Although talks were resumed this Sunday, they quickly collapsed, as seen in BHP's latest statement, according to Reuters. BHP noted that it is no longer considering a combination of the two companies and that while they "continue to believe that a combination with Anglo American would have strong strategic advantages and create significant value for all stakeholders," they are confident in their own growth strategy.
As SteelOrbis previously reported, BHP's attempts to acquire Anglo American's operations began last year as a strategy to strengthen its presence in the copper market. However, Anglo American rejected the company's proposals several times.
