- Anglo American has rejected a new offer worth £31 a share on Wednesday's prices
- Extension to the Takeover Panel deadline will see negotiations continue
Anglo American (AAL) has rejected an increased bid from BHP (BHP) but the two have agreed on an extended "put-up-or-shut-up" deadline, allowing more time for negotiation. Just hours before the Wednesday afternoon cutoff, the miners revealed BHP had increased its all-share offer to just under £30 a share on Monday 20 May, valuing Anglo American at £38.6bn.