BHP withholds $49 billion takeover bid for Anglo American

Global mining giant BHP decided to withhold its takeover plan for rival Anglo American on Wednesday after the latter declined an extension for BHP to make more offers, according to the latest statements the pair released.

BHP confirmed on May 29 that it does not intend to make a firm offer for Anglo American. Under the Takeover Code, BHP cannot return for at least six months unless a third party announces a firm intention to make an offer for Anglo American, Mysteel Global noted. "While we