One of the world's largest mining companies, Australia's BHP, has formally withdrawn its interest in a takeover of Anglo American, a British multinational, bringing an abrupt end to what would have been one of the most consequential mining mergers of the decade.
The decision arrives just weeks after BHP’s latest pitch for Anglo — its second in a year and a half — was swiftly rejected by Anglo American's board. Previous rejections, including one in spring last year, were based on claims that BHP's offer undervalued Anglo American and its future prospects.
