After a rollercoaster weekend, BHP (NYSE:BHP) has definitely walked away from the last-minute attempt to acquire Anglo American (OTC:AAUKF), weeks before its shareholders vote on a $53 billion merger with Teck Resources (NYSE:TECK).

Despite repeatedly distancing itself from speculations throughout the year, the Australian commodities giant had quietly re-engaged Anglo's management, according to Bloomberg. Reportedly, it was a simplified proposal that avoided the contentious break-up structure that derailed the previous $49 billion bid.

"It's a last throw of the dice for BHP," Andy Forster, portfolio manager at Argo Investments, said, according to Reuters. "I'm a bit surprised that, given the relative performance, they thought they were in a position to ...