BREAKINGVIEWS-Anglo's Teck deal leaves BHP in a hole

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

By Antony Currie

MELBOURNE, Sept 10 (Reuters Breakingviews) - The Aussie miner tried and failed to buy its UK-listed rival last year. Anglo American's $54 bln merger with Teck might lure BHP boss Mike Henry back into the fray, but forex, stock prices and key assets have moved against him. It looks hard to counter-bid without overpaying.

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CONTEXT NEWS

Anglo American and Teck Resources on September 9 said they had agreed to a $54 billion merger.

Anglo American shareholders will own 62.4% of the new company, with Teck's investors holding the remaining 37.6%.


(Editing by George Hay; Production by Streisand Neto)

((For previous columns by the author, Reuters customers can click on CURRIE/antony.currie@thomsonreuters.com))

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