Anglo's 'radical' shakeup plan receives cautious market response

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Anglo American Notícia

Duncan Wanblad,Acquisition

Anglo's 'radical' shakeup plan receives cautious market response

Anglo American has offered shareholders a radical restructuring plan as an alternative to a £34-billion takeover offer from global mining giant BHP. Both proposals promise to unlock massive value for Anglo investors, who are now left weighing up which of the two options is most likely to deliver.

Anglo – which had been working on a restructuring plan before BHP threw its hat in the ring – said on Tuesday it expects a new-look business to emerge by the end of next year when much of the restructuring would be complete. The plan seeks to streamline the business to focus on copper, iron ore and crop nutrients. Anglo would divest from Anglo American Platinum and De Beers, as well as from its nickel and steel-making coal businesses, but its shares fell almost 5% on Tuesday, though they have still risen about 17% in the past month.South Africans need to be in the know if we want to create a prosperous future.

 

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