Of the investors that Bloomberg spoke to this week, some suggested that BHP should provide a commitment to cover any lost value suffered by the subsidiaries’ new owners.

BHP has until 16:00 GMT on Wednesday to make a binding bid for Anglo American.

LGIM is among Anglo's biggest investors with a stake of about 2%.

BHP faces a critical question: what would it take to draw the smaller company to the negotiating table within the next few days? 

Ban aims to curb another revenue stream for Russia.

Anglo American has turned down BHP’s bids twice since April 25, stating the offers continue to considerably undervalue the company.