Anglo American PLC (LSE:AAL), the mining company, saw its shares rise 1.5% after reports indicated Rio Tinto might be interested in making an offer.
The FTSE 100 miner has been at the centre of takeover interest from industry rivals.
Last month, the group rejected an offer from BHP as management claimed it significantly undervalued the company.
Last week, reports revealed Glencore was mulling a bid.
Now it's Rio Tinto's turn, with Australian reports indicating it was also considering tabling an offer.
Rio "management had not ruled out making a play for part or all of the mining group and continued to study the day-to-day situation", the Australian Financial Review reported.