DBWI: No Anglo-German peace treaty in 1940?

In retrospect, the Anglo-German peace treaty of 1940 was another Treaty of Amiens, a peace treaty that did not last long. Nonetheless, it brought both Britain and Nazi Germany more than a year of respite, allowing Britain to rearm while giving Nazi Germany both a free hand to deal with the Soviets and to import much needed raw materials. WI such a treaty was not signed?
 
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