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BHP Group Ltd has put its plan to take over rival Anglo American PLC on ice, the Financial Times reported Saturday. Citing people close to Melbourne-based BHP, a takeover of London-based Anglo American would be too expensive following a rise in the share price of the latter. Three people close to the situation are said to have noted that following the share price increase, a fresh takeover bid would be too expensive in the near term. Anglo’s share price has grown 39% over the past year on the London Stock Exchange, while BHP’s share price has fallen 17% on the same exchange over the same time. Anglo launched a restructuring plan in 2024, after BHP’s unsuccessful £38.6 billion bid. That included plans to dispose of its coal, platinum and diamond businesses. Under London takeover rules, BHP is allowed to renew its bid for Anglo in late November. BHP shares had closed 0.9% lower at 2,007.00 pence each on Friday in London, for a market capitalisation of £101.46 billion, and ended 0.5% higher at A$39.31 each in Sydney, and 1.0% higher at R 458.49 in Johannesburg. Anglo shares had closed 0.6% lower at 2,532.50p each in London, for a market cap of $41.97 billion or around £33.62 billion, and 0.7% higher at R 582.99 each in Johannesburg on Friday. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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