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

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 [e-mail]

(END) Dow Jones Newswires

05-01-24 2126ET