BHP Group’s bold bid to buy rival Anglo American Plc in 2024 was supposed to set it up as the clear winner in a copper boom it had long predicted. Two years later, the copper market is indeed booming. And yet the world’s biggest miner is left sitting on the sidelines of an M&A frenzy it began.

BHP Group Ltd.’s top boss said he’s moving on after the company’s aborted attempt to buy Anglo American Plc, preferring instead to focus on its copper projects and opportunities in Canada.

The Canadian government has approved Anglo American Plc’s acquisition of Teck Resources Ltd., helping to clear the way for the creation of a $50 billion metals giant focused on copper mines in Chile and Peru.

Anglo American has climbed 80% since plunging two years ago, and is now on the brink of a transformational deal.

Anglo American Plc and Teck Resources Ltd. shareholders voted in favor of the two companies combining, clearing a key step toward the creation of a $50 billion metals producer focused on copper mines in Chile and Peru.

Anglo American Plc has withdrawn a resolution on executive incentives, the day before shareholders vote on its takeover of Teck Resources Ltd.

Glencore Plc said it would seek to keep an equal share of its copper joint venture with Anglo American Plc in Chile should it merge with a neighboring mine owned by Teck Resources Ltd. after the two rivals combine operations.

BHP Group offered around £40 billion ($53 billion) in its now-aborted attempt to acquire Anglo American Plc,  according to people with knowledge of the matter.

The Canadian government has cleared Anglo American Plc’s proposed takeover of Teck Resources Ltd. on national security grounds, the Globe and Mail reported, removing one hurdle for the two companies to combine.

Last Thursday night, the world’s biggest miner made a brazen attempt to gatecrash one of the industry’s biggest-ever deals. Yet just three days later, the bid was already dead.

Until now, the mining giant had been insisting its own operations would give it the heft it needed.

US equity futures rise ahead of a week of key economic data as traders increase their bets on a December rate cut. US State Secretary Marco Rubio, President Volodymyr Zelenskiy's top aide and European officials express optimism and progress around a peace deal. BHP walks away from its takeover bid for Anglo American again after making a new approach, which Anglo is said to have rejected. Lauren Van Biljon of Allspring looks ahead to the data scheduled to be released this week. (Source: Bloomberg)

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BHP Group confirmed it held preliminary discussions with rival miner Anglo American Plc but said it was now “no longer considering a combination of the two companies." Bloomberg's Paul-Alain Hunt reports. (Source: Bloomberg)

BHP Group has walked away from a fresh takeover approach for Anglo American Plc, ending an unexpected and short-lived attempt by the world’s largest miner to thwart a planned tie-up between its smaller rival and Canada’s Teck Resources Ltd.

BHP Group said it was no longer considering a tie-up with Anglo American Plc.

Canada is putting pressure on Anglo American Plc to make stronger commitments to executive and management jobs at its proposed Vancouver headquarters as a condition of taking over Teck Resources Ltd., according to people familiar with the matter.