BHP(US:BHP) 智通财经网·2026-01-12 15:23Group 1 - BHP's initial attempt to acquire Anglo American was unsuccessful, leading to concerns as rivals like Rio Tinto and Glencore are nearing a merger that could surpass BHP in market value and copper production capacity [1][2] - BHP's previous indecisiveness in pursuing acquisitions has raised questions about its merger strategy, especially after its last-minute attempt to disrupt the Anglo American and Teck Resources deal [1][2] - The potential merger between Rio Tinto and Glencore could position the new entity as the largest copper producer globally, surpassing BHP and even Codelco [2] Group 2 - BHP and Glencore are both major coking coal producers, and a merger would face significant antitrust scrutiny, complicating BHP's ability to acquire Glencore [2] - BHP's CEO Mike Henry has emphasized a disciplined approach to mergers, especially after past acquisition failures, which has helped regain investor confidence [2][3] - Current market valuations show Glencore at approximately $73 billion, BHP at about $158 billion, and Rio Tinto at around $138 billion, indicating the competitive landscape for potential mergers [3]