Anglo American rejects BHP's upgraded $42.7bn takeover proposal

LONDON (Reuters) -- Anglo American rejected a raised takeover offer of 34 billion pounds ($42.7 billion) from BHP Group on Monday, saying the world's largest listed miner "continues to significantly undervalue" the company.

The London-listed miner had already rebuffed BHP's initial $39 billion all-share takeover proposal, made on April 25, dismissing it as opportunistic and saying it would dilute the upside value for its shareholders relative to BHP's.