LONDON – Anglo American laid out a method replace on Tuesday that features exploring choices for its steelmaking coal, nickel and platinum companies, in an effort to fend off a takeover bid from the world’s largest miner BHP Group.
The announcement comes a day after the London-listed miner rejected a raised provide from BHP, saying it continued to considerably undervalue the corporate and was “extremely unattractive” for its shareholders.
In an announcement on Tuesday, Anglo mentioned it was going to divest its steelmaking coal property, demerge its troubled platinum unit in South Africa, discover choices for its nickel mines, and divest or demerge diamonds enterprise De Beers.
“We anticipate {that a} radically less complicated enterprise will ship sustainable incremental worth creation via a step change in operational efficiency and value discount,” Anglo CEO Duncan Wanblad mentioned.
