South Africa’s antitrust regulator has indicated that BHP Group would need its approval if a deal is struck to acquire Anglo American. The Financial Times reports that the regulator would “mandatorily” review any transaction involving a change of control of Anglo American’s business in South Africa.
Anglo American recently rejected BHP’s merger proposal, which was based on a $39 billion valuation. BHP’s CEO, Mike Henry, has been in South Africa, where Anglo American was founded and still maintains significant operations. The country’s Competition Commission assesses deals based on their impact on competition and the national interest, including effects on the sector, employment, and local communities. The merger has faced opposition from South African politicians, with the country’s mining minister expressing personal disapproval.
Meanwhile, reports suggest that Glencore may also consider submitting an offer for Anglo American, setting up a potential bidding contest. While BHP and Glencore shares saw minor declines, Anglo American’s stock experienced an uptick following these developments. 
