Anglo American eyes break-up as it fends off BHP takeover bid

Investors anticipate a bidding war for Anglo American. Photo: Bloomberg

Clara Denina and Felix Njini

Anglo American laid out plans on Tuesday to refocus on energy-transition metal copper while spinning out or selling its less profitable coal, nickel, diamond and platinum businesses, as it moves to fend off BHP Group’s $43bn (€40bn) takeover offer.

The announcement came a day after the London-listed miner rejected its Australian suitor for the second time in less than three weeks, saying an increased proposal continued to significantly undervalue the company.