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BHP Revives Appetite for Deals With Biggest Rivals in Sights

  • Biggest miner has expanded its deals team, evaluating rivals
  • BHP’s deal deliberations are still in the early stages
Mike Henry
Mike HenryPhotographer: Carla Gottgens/Bloomberg
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After sitting dormant for more than a decade, BHP Group -- once mining’s most aggressive dealmaker -- is positioning itself for a return to large-scale M&A.

BHP has expanded its dealmaking team, including in London, and is interested in pursuing a transformational deal, according to people familiar with the matter who asked not to be identified discussing private information. The company is evaluating rivals including Freeport-McMoRan Inc. and Glencore Plc, they said, while emphasizing that there is no indication it is preparing any bids at this point.