(RTTNews) - BHP Group Ltd. (BHP, BHPLF, BHP.AX), a mining and metals company, on Monday announced it is no longer considering a possible combination with Anglo American plc (AAL.L) following preliminary discussions with the company's board.
The company said it still believes the proposed deal had strong strategic merits and would have created significant stakeholder value.
However, the company remains confident in the highly compelling potential of its own organic growth strategy.
The statement may be set aside if the Anglo American board agrees, if a third party announces a firm intention to bid, or if Anglo American announces a Rule 9 waiver proposal or a reverse takeover.
The statement may also be withdrawn if the UK Takeover Panel determines that there has been a material change in circumstances.
BHP closed trading, 0.62% higher at AUD 40.62 on the Australian Securities Exchange.
On Friday, Anglo American closed trading 0.95% lesser at 2,710 pence on the London Stock Exchange.
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