Slaughter & May corporate heavyweight Nigel Boardman has snared a lead role on BHP Billiton's £67bn bid for Anglo-Australian rival Rio Tinto, which would create the world's biggest mining company.

BHP, which saw its initial £67bn approach rejected by Rio Tinto last week (8 November), is understood to be readying itself for a fresh bid in the coming weeks, with many analysts predicting the approach could go hostile.

Boardman is leading the team for longstanding client BHP, acting alongside a big-name team including corporate partner Elizabeth Holden and finance partner Andrew Balfour. The firm is acting opposite magic circle rival Linklaters, where London-based corporate partners Richard Godden and James Inglis are understood to be acting for Rio Tinto.

The deal is the latest in a raft of M&A mandates gifted to Linklaters by the company including advising on its $34bn (£16.8bn) merger with Canadian metal group Alcan earlier this year.

Godden led the Linklaters team on that deal with Inglis also playing a role.

Balfour told Legal Week: "A deal of this size and sophistication involving two dual-listed worldwide companies only comes along once in a lifetime. Between them, BHP and Rio Tinto have mining operations in every continent and, if combined, will become one of the biggest companies in the world."

BHP, which is headquartered in Melbourne, is listed on stock exchanges in Australia, the UK, the US, South Africa, Germany and Switzerland and has over 35,000 employees worldwide.

The mining giant recently named the managing partner of Australian firm Freehills, Mike Ferraro, as its new general counsel following the announcement of incumbent legal chief John Fast's retirement in June.