CORPORATE ACTIVITY
BHP Group’s $39-billion bid to create a global copper giant risks irking its biggest customer China, where authorities have a history of intervening to stymie or water down international mergers.
A takeover of Anglo American would catapult BHP into the top spot for copper producers, with 10% or more of the world’s output. That could be a red flag for Beijing, which has long bemoaned China’s weak purchasing power against the miners that dominate trade in raw materials.
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