Rio Tinto Chair Says Won't Comment on Whether Considering Rival Anglo American Bid

Dow Jones05-02

By Rhiannon Hoyle

The chair of Rio Tinto on Thursday declined to comment on whether the world's second-largest miner by market value is weighing a bid for Anglo American, the target of a recent $39 billion bid by BHP Group.

"We don't speculate or comment on M&A activity," Dominic Barton said in response to a question at a shareholder meeting on whether Rio Tinto is considering a takeover proposal for London-listed Anglo American.

Anglo American last Friday rejected a takeover proposal from rival BHP, saying the bid "significantly undervalues" the company and setting the stage for a potential bidding war.

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

(END) Dow Jones Newswires

May 01, 2024 21:11 ET (01:11 GMT)

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