BHP Group is considering improving its offer for Anglo American after its initial $39 billion proposal was rejected. BHP is in discussions on a revised bid to be made in the coming weeks. Anglo American rejected BHP's previous offer, stating that it undervalued the company and its future prospects. Under UK takeover rules, BHP has until May 22 to come back with a formal offer for Anglo American. Some Anglo American investors believe the company is worth around 30 pounds a share. BHP's bid has focused on copper, as a tie-up with Anglo would create a group accounting for about 10% of the global output of the metal. If successful, a deal would be the largest mining takeover globally in 2024.