Anglo American was encouraged by key shareholders including BlackRock to continue engaging in talks with BHP Group over its proposed 38.6-billion pound ($49.18-billion) mining merger, a person familiar with the matter told Reuters on Saturday.

BHP, the world’s biggest listed mining group, now has until May 29 to make a firm bid for Anglo American or it will be forced to walk away for at least six months under the UK’s takeover rules after it was granted a one-week extension on Wednesday.