Anglo American rejects BHP's third offer but agrees to 1-week extension

LONDON (Reuters) -- Anglo American on Wednesday rejected a third takeover proposal from BHP Group that valued the company at 38.6 billion pounds ($49.18 billion), but agreed to a one-week extension for its rival to table a binding offer.

The move marks the third unsuccessful offer in a month from BHP, the world's biggest listed mining group, as Anglo works on a radical plan to divest its less profitable coal, nickel, diamond and platinum businesses.