Reports: BHP Prepares New Bid for Anglo American

Mining giant BHP is reportedly gearing up to make another takeover bid for rival Anglo American, according to the Sunday Times, as cited by IDEX Online.

In April 2024, BHP proposed acquiring Anglo American in a deal valued at over $49 billion. However, the bid was rejected by Anglo’s board. With the six-month regulatory cooling-off period now expired, speculation is rising that BHP is poised to launch a fresh bid. According to reports, BHP is focused on acquiring Anglo’s copper mines, with no interest in its diamond business, De Beers, or its platinum group metals (PGM) assets.

Anglo American, meanwhile, is actively restructuring its portfolio. In May, shortly after BHP’s initial bid, the company announced plans to sell or spin off its diamond and platinum operations, including De Beers, to concentrate on copper and other high-margin segments of its business.

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