并购野心受挫：必和必拓二度被拒，正式退出英美资源收购战

Core Insights - BHP's attempt to acquire Anglo American has officially failed, marking the end of a brief and dramatic bidding war [1] - The decision comes as Anglo American's board rejected BHP's latest proposal, favoring its ongoing merger with Teck Resources instead [1] - The failed acquisition attempt highlights the mining industry's increasing demand for high-quality copper assets amid a tightening supply [1][3] Group 1: Acquisition Attempt - BHP's move to propose an acquisition was seen as a strategic last-ditch effort before the shareholder vote on the Anglo American-Teck merger scheduled for December 9 [2] - Analysts described BHP's bid as a "final roll of the dice" aimed at acquiring coveted South American copper assets [2] - The swift withdrawal from the bidding process indicates BHP's reluctance to engage in a costly competitive bidding war [3] Group 2: Strategic Importance of Copper - The core of the acquisition battle revolves around the competition for copper assets, which are viewed as critical for future growth [3] - Copper is essential for infrastructure related to energy transition, including electric grids and renewable energy equipment, increasing its strategic value [3] - If the merger between Anglo American and Teck Resources is successful, it would create a new giant in the copper production sector with a market value exceeding $60 billion [1][3] Group 3: Complexity of Anglo American - Anglo American's diverse asset portfolio, which includes diamonds and platinum, complicates its attractiveness as a pure copper acquisition target [5] - BHP's previous attempts to acquire Anglo American were also thwarted due to the complexity of its asset structure [5] - Following BHP's exit, the path for Anglo American and Teck Resources' merger appears clearer, with BHP now focusing on its internal growth strategy [5]