BHP walks away from £39bn attempt to take over mining rival Anglo American

Five-week pursuit by Australian company comes to end as last-ditch talks collapse

Anglo American has survived an almost 39bn takeover plot by the Australian mining rival BHP after last-ditch talks over restructuring the 107-year-old company collapsed.

The five-week pursuit came to an end after Anglo rejected BHP's 11th-hour appeal to extend the takeover talks for a second time, after three failed takeover proposals from the Melbourne-based miner.