Deals
BHP Seeks to Break Mining’s M&A Curse with Thorny Anglo Deal
- World’s largest digger has a checkered acquisition record
- Sector has avoided blockbuster deals for best part of a decade
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The last time BHP Group took a swing at another major miner, it was Rio Tinto Plc back in 2007. That could have been a blockbuster $150 billion takeover, but with metals prices crashing as the financial crisis took hold and with China signaling its discontent, the plan crumbled.
Having confirmed a takeover approach for rival Anglo American Plc on Thursday only to have it swiftly rejected, executives at the world’s biggest digger will be wringing their hands. They need a better outcome this time — even with one of the most complex deals the industry has seen in years.