Glencore Mulls Potential Approach for Anglo American Amid Bidding War Speculation

Glencore is reportedly considering a potential approach for Anglo American, a move that could ignite a bidding war for the British mining giant. According to Reuters, Glencore has not yet approached Anglo, and current discussions within Glencore are internal and at a preliminary stage, with no certainty of an eventual approach.

A Glencore spokesperson declined to comment on market rumors or speculation. This comes after Anglo American rejected a £31 billion all-share proposal from BHP, calling it "highly unattractive" and "opportunistic." BHP has until May 22 to make a formal bid, and there is speculation that the Australian mining company may consider an improved offer.