Despite it being 15% higher than the initial offer.
BHP Group said Anglo American Plc rebuffed an improved takeover offer, which valued the mining company at about £34 billion .
BHP said Anglo rejected its latest offer, which was 15% higher than its first approach, on Monday. The improved proposal — tabled on May 7 — still included the stipulation that Anglo must spin off its South African units before the acquisition. Anglo has dismissed that structure. If successful, a takeover would mark a return to large-scale dealmaking for BHP, which has revived its appetite for transformational acquisitions in the past couple of years under Chief Executive Officer Mike Henry.
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