The shares pared some gains and closed at C$27.98, giving the company a market capitalization of C$3.44 billion ($2.52 billion).
The Lundin family holds a 32% stake in copper miner Filo Corp, while BHP holds a 6% stake in the company, according to recent regulatory filings and LSEG data.
Lundin, BHP and Filo Corp did not immediately respond to a Reuters request for comment.
Bloomberg News reported earlier on Friday that Lundin had pitched BHP on a joint bid for Filo.
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Persons:
Dado, Filo, Lundin, Divya Rajagopal, Mrinalika Roy, Maju Samuel, Josie Kao
Organizations:
BHP, REUTERS, Lundin, Filo, Lundin Mining, Filo Corp, Bloomberg News, Thomson
Locations:
Canada, Sol, Chile, Argentina, Lundin, Toronto, Bengaluru