BHP declined to make a firm offer for Anglo American before an early Thursday morning deadline, walking away for now from what would have been the biggest mining deal in more than a decade.

With less than one hour before a 2am AEST cut-off time, BHP confirmed it had not been able to reach an agreement to secure the backing of Anglo’s board and so would not proceed. BHP must now walk away for at least six months as a result.

Bloomberg