Anglo American receives buyout offer from rival miner BHP

SYDNEY/LONDON (Reuters) -- British multinational miner Anglo American said on Thursday it had received an all-share buyout proposal from the world's largest listed mining company, Australia's BHP Group BHP.

London-listed Anglo American, which owns mines in countries including Chile, South Africa, Brazil and Australia, had a market capitalisation of $36.71 billion as of Wednesday's close, according to LSEG data.

The deal, if agreed, would give BHP access to more copper, one of the most sought after metals in the clean energy transition, and potash, two of its strategic commodities, as well as more coking coal in Australia.

It could also trigger a wave of transactions for any unwanted assets such as iron ore, nickel and diamonds, where Anglo owns 85% of industry giant De Beers.

"There can be no certainty that any offer will be made nor as to the terms on which any such offer might be made," Anglo American said in a statement, adding the unsolicited proposal is non-binding and highly conditional.

The company said its board was reviewing the proposal and did not disclose the share ratio on offer.

BHP declined to comment when asked about earlier reports about preliminary talks with Anglo American.

A deal would be conditional on being preceded by separate demergers by Anglo American of its entire shareholdings in Anglo American Platinum and Kumba Iron Ore to its shareholders.

Under UK takeover rules, BHP has until May 22 to make a firm offer.

BHP, best-known for mining iron ore, copper, nickel and coking coal, had a market capitalisation of about $149 billion as of Wednesday. The Australian market is closed on Thursday for a public holiday.

If the Anglo American deal came to fruition, it would be the second major acquisition for BHP in