LONDON, April 25 (Reuters) - Anglo American

investor Redwheel said on Thursday the buyout proposal from BHP

Group ( BHP ) "does not reflect the value" in the London-listed

miner's assets or growth pipeline, as shareholders begin to

speak out against a merger.

In an emailed statement to Reuters, John Teahan, portfolio

manager of the Redwheel Climate Engagement Strategies, said

details of the proposal were "sketchy" and "rather

opportunistic", in view of recent weakness in Anglo's

shareprice.

"It is unsurprising that Anglo American is an attractive

target for BHP. Anglo American has some great assets,

particularly in copper," Teahan said, adding that BHP's move

could "spur further interest."

Earlier on Thursday, Legal & General Investment Management,

Anglo's 11th largest shareholder, according to LSEG data, told

Reuters that BHP's proposed exchange ratio was "an unattractive

proposition for long-term investors."