By Adria Calatayud
BHP Group said smaller rival Anglo American rejected an improved takeover proposal that valued the target at 34 billion pounds ($42.59 billion).
The Australian mining giant said it made a revised proposal to Anglo American's board on May 7 and that the target rejected it on Monday.
The news comes after Anglo American on April 26 rejected a $39 billion takeover proposal from BHP, saying the bid significantly undervalued it.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
05-13-24 0835ET