BHP has ended preliminary takeover talks with Anglo American without reaching a deal, the mining giant confirmed. The announcement came as the ASX 200 rallied 1.3% on Monday, buoyed by renewed hopes of a US Federal Reserve rate cut in December.
BHP shares gained 0.6% on the day, underperforming rivals Rio Tinto and Fortescue, which also rose. The broader market saw gains across most sectors, with only Woodside and Macquarie losing ground among the top 20 stocks.
The failed talks mark the end of BHP's latest attempt to acquire the London-listed miner. No further details on the reasons for the breakdown were provided.
Meanwhile, the corporate regulator ASIC has flagged the need for more regulation in Australia's booming private credit market. However, Moody's Ratings said it does not expect increased scrutiny to hinder growth, noting the sector is 'fast becoming a critical source of alternative funding for companies in Australia.'
Moody's highlighted that private credit growth will continue into 2026, driven by demand from commercial real estate firms and increasing retail investor interest through superannuation funds and new exchange-listed funds.
