Nov 23 (Reuters) - BHP Group (BHP.AX) , opens new tab said on Monday it is no longer pursuing a potential combination with Anglo American (AAL.L) , opens new tab after preliminary discussions with the rival miner's board.

BHP had made a renewed takeover bid for Anglo American, a source familiar with the matter told Reuters on Sunday, just months after the London-listed company announced merger plans with Canada's Teck Resources (TECKb.TO) , opens new tab to create a global copper-focused heavyweight.

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Anglo American declined to comment on Sunday.

Anglo American's market capitalisation is about $41.80 billion, while BHP's is around $132.18 billion, based on LSEG data.

In September, Anglo American revealed plans to merge with Teck in an all-share transaction, marking the sector's second-biggest M&A deal ever.

In May 2024, BHP scrapped a $49 billion bid for Anglo that would have boosted the Australian miner's holdings of copper, the metal seen as essential for the transition to greener energy.

If the BHP/Anglo deal had gone ahead, the combined entity would have been the world's largest copper producer, with a total annual production of around 1.9 million metric tons.

The new Anglo Teck group is expected to have a combined annual copper production capacity of about 1.2 million tons, still second to BHP.

https://www.reuters.com/business/bhp-has-made-renewed-bid-approach-anglo-american-bloomberg-news-reports-2025-11-23/