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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00:00 It's Benzinga and here's what's on the block.
00:02 Anglo American plans to spin off its De Beers diamond business as part of a wider restructuring
00:07 amid pressure from BHP Group's takeover advances. The mining company will also divest its steel
00:12 making, coal, nickel, and platinum divisions following a strategic review. The accelerated
00:16 overhaul is seen as a defense tactic against a hostile bid from BHP after rejecting its latest
00:21 $42 billion takeover offer. Selling off non-core assets could attract interest from other potential
00:27 buyers for parts of the business. Shares of Anglo American fell over 3% in early Tuesday trading.
00:32 For all things money, visit Benzinga.com
00:34 (thud)