_anglo-american-to-spin-off-de-beers-diamond-business-in-major-restructuring-move-as-it-faces-takeover-pressure-from-bhp.jpg "Anglo American to Spin Off De Beers Diamond Business in Major Restructuring Move as It Faces Takeover Pressure from BHP Group from beer can through ceiling advertisement Video Screenshot Preview")
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⏲ Duration: 0:36
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✓ Published: 15-May-2024
👁 View: 185K times
✓ Published: 15-May-2024
Description:
Anglo American plans to spin off its De Beers diamond business as part of a wider restructuring amid pressure from BHP Group's takeover advances. The mining company will also divest its steelmaking coal, nickel, and platinum divisions following a strategic review. The accelerated overhaul is seen as a defense tactic against a hostile bid from BHP after rejecting its latest $42 billion takeover offer. Selling off non-core assets could attract interest from other potential buyers for parts of the business. Shares of Anglo American fell over 3% in early Tuesday trading.
Anglo American plans to spin off its De Beers diamond business as part of a wider restructuring amid pressure from BHP Group's takeover advances. The mining company will also divest its steelmaking coal, nickel, and platinum divisions following a strategic review. The accelerated overhaul is seen as a defense tactic against a hostile bid from BHP after rejecting its latest $42 billion takeover offer. Selling off non-core assets could attract interest from other potential buyers for parts of the business. Shares of Anglo American fell over 3% in early Tuesday trading.
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