UPDATE 1-BHP considering improved proposal for Anglo American after bid was rejected, source says

Reuters04-27

(Changes sourcing, adds details in paragraphs 2-3)

April 27 (Reuters) - BHP Group is considering making an improved proposal for Anglo American after its $39 billion initial offer was rejected by the London-listed miner, a source familiar with the matter told Reuters.

BHP is in discussion for revised proposal for Anglo American in the coming weeks, the source said. The deliberations are currently ongoing and it hasn't made a decision on the size and structure of the new proposal, the source added.

BHP has until May 22 to come back with a formal offer for Anglo American.

Bloomberg News first reported the news about BHP's improved proposal for Anglo American.

(Reporting by Rishabh Jaiswal in Bengaluru and Clara Denina, Editing by Timothy Heritage and David Evans)

((rishabh.jaiswal@thomsonreuters.com;))

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