Anglo American has rejected a second takeover bid from BHP – which was worth £34bn – it has been confirmed. The FTSE 100-listed mining company received a first offer in April which valued it at £31bn – a 13 per cent premium to Anglo’s share price at the time the bid was announced. The second bid had been widely expected ahead of the May 22 deadline. The business has been conducting a strategic review of its business since the middle of 2023, examining its operations on a mine-by-mine basis in to assess how it can recover the ground lost on its competitors in recent years. The news comes after five of Anglo’s largest shareholders privately urged the company to speed up the review’s publication, according to Bloomberg. In a statement, BHP said it was “disappointed that the Anglo American board has chosen not to engage with BHP with respect to the revised proposal and the improved terms”. BHP chief executive Mike Henry said:”BHP put forward a revised proposal to the Anglo American board that we strongly believe would be a win-win for BHP and Anglo American shareholders. “We are disappointed that this second proposal has been rejected. “The revised proposal...