BHP Expected to Wait Out Rio Glencore Deal Talks as Copper M&A Heats Up ...Middle East

Australia's mining giant, BHP Group ( NYSE:BHP), will wait out talks over the proposed merger by the United Kingdom’s Rio Tinto Group (NYSE:RIO) and Switzerland-based commodity trading and mining company Glencore Plc. (OTCPK:GLCNF), people familiar with the matter told Reuters on Monday. With a market cap of $162 billion, BHP was viewed as the most likely spoiler of Rio's bid for Glencore that would create the world's largest mining company. However, the Australian miner says it will not pursue a counterbid because Glencore is not complementary…

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