Glencore mulls bid for Anglo American, sparking potential bidding war

Commodities giant Glencore is reportedly considering a bid for Anglo American, potentially igniting a bidding war for the century-old mining firm. Though Glencore hasn't formally approached Anglo, discussions are underway internally. Anglo recently rejected a $39 billion offer from BHP Group, prompting speculation of an improved bid. Both companies have significant stakes in the lucrative Collahuasi copper mine in Chile. Glencore's interest comes amidst its ongoing acquisition of Teck's coal unit. BHP's proposal includes conditions on Anglo's South African assets.

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SOURCE: REUTERS

By Clara Denina, Pratima Desai and Felix Njini

LONDON, May 2 (Reuters) – Commodities group Glencore is studying an approach for Anglo American, two sources said, a development that could spark a bidding war for the 107-year old mining company.

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