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International Business Times
International Business Times
Business
AFP News

Anglo American To Split Group After Rejecting BHP Bid

Anglo BHP Anglo American copper Duncan Wanblad Coal
Anglo American wants to focus on copper mining, which rival BHP targeted the business to create a global leader in the critical mineral (Credit: AFP)

Anglo American said Tuesday it would offload steelmaking coal, diamond and platinum businesses and focus on critical minerals as it fights off a massive takeover bid by Australian rival BHP.

After rejecting an improved takeover offer worth GBP34 billion ($43 billion) from BHP, which had hoped to create a copper titan, Anglo said it was accelerating plans to simplify the group and reward shareholders in a "radical" revamp.

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