BHP Walks Away from Anglo American Takeover After Fresh Bid, as ASX 200 Rallies on Qube Deal and Fed Rate-Cut Hopes
BHP has withdrawn its takeover proposal for Anglo American after renewed talks, confirming Monday it is “no longer considering a combination.” The decision comes ahead of a shareholder vote on Anglo American’s planned US$50–60 billion merger with Teck Resources. The ASX 200 rose about 1% Monday, lifted by Wall Street gains and rate cut hopes. Qube shares jumped following an $11.6 billion bid from Macquarie Asset Management.