(Reuters) – BHP Group is considering an improved offer for Anglo American after the British mining group rejected a first takeover proposal at $39 billion, a source close to the matter told Reuters.
BHP plans to submit a new offer in the coming weeks, according to this source. Discussions are underway within the group and no decision has yet been taken on the amount or structure of this possible new proposal, the source added.
Under UK law, BHP has until May 22 to submit a binding offer to Anglo American following its initial approach.
Bloomberg News first reported this possible improved offer.
(Written by Rishabh Jaiswal in Bangalore and Clara Denina, French version Bertrand Boucey)
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