BHP investors wary of overpaying for Anglo
Analysts expect BHP to stay on hunt for copper deals
BHP can focus on own growth opportunities, investor says
BHP shares down 1.75, roughly in line with peers

SYDNEY, May 30 Reuters BHP Group investors welcomed the top global miner39;s decision to walk away from a 49 billion plan to take over Anglo American, which rejected three proposed offers from its bigger rival over the past six weeks.

BHP39;s decision to withhold a binding bid came after Anglo said it would not grant the Australiaheadquartered mining group a further extension to iron out details of a deal that called for Anglo to first spin off its South African assets.

The developments ended a tense standoff between the two global mining giants and negotiations in which shareholders warned BHP not to pay too much to secure control over Anglo.

It was one of the best opportunities out there for them and it was always going to be hard to complete. I applaud them for showing discipline, said Andy Forster, senior investment officer at Argo Investments, which holds BHP shares.

BHP39;s timing was good but the complexity of the deal requiring demergers and a copper price rally made it difficult to execute, Forster said.

While BHP39;s Australianlisted shares fell 1.75 on Thursday, they were in line with its peers.

Winning the Anglo deal would have been a career defining victory for BHP CEO Mike Henry, who has reshaped the company since moving into the top job in…