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Way clear for Teck merger after BHP walks away from Anglo American takeover attempt
Australian mining giant BHP Group Ltd. says it has abandoned its latest takeover attempt of Anglo American PLC, whose own plans to join up with Vancouver-based Teck Resources Ltd. are still a go. Bloomberg reported over the weekend that London-headquartered Anglo American had rebuffed BHP’s second acquisition attempt in as many years. BHP today confirms it has had “preliminary discussions” with Anglo American’s board, but it is “no longer considering a combination of the two companies.” It says it continues to believe a combination with Anglo American would have “strong strategic merits,” but it’s ... (full story)