05:01 AM EDT, 05/29/2024 (MT Newswires) -- BHP Group ( BHP ) on Wednesday requested a second extension of the deadline to submit a formal offer in its quest to acquire its rival Anglo American.

"BHP believes a further extension of the deadline is required to allow for further engagement on its proposal," said a statement.

An Anglo American spokesperson said the company "will respond to the BHP request in due course."

BHP would be required by UK regulations to refrain from making another offer for six months if it fails to obtain an extension.

BHP originally faced a deadline of May 22, but was granted an extension to submit a revised offer in its all-stock bid for the UK-based global mining company. The two companies and their advisers have been engaged in negotiations over the structure of the proposed transaction.

One sticking point is concern regarding obtaining regulatory and antitrust approvals in South Africa for any merger. BHP said its proposed spin-off of Anglo American's platinum and iron ore businesses in South Africa would resolve the concerns.