Anglo American Plc’s shareholders are pushing the company to speed up the release of its turnaround plan as the 107-year-old miner seeks to present an alternative to BHP Group’s takeover bid.
Anglo may unveil the strategy as soon as the coming week, when the world’s top mining bosses attend Bank of America Corp.’s annual conference in Miami, according to people familiar with the matter. The mining industry has been captivated by BHP’s move, watching to see what comes next. BHP likely will return with a fresh offer, but sitting on the sidelines is Elliott.
Anglo quickly dismissed BHP’s proposal, saying the value was too low and the spinoff plan was unworkable. Still, investors want to know what Anglo plans to do with the diamond business De Beers, the $9 billion Woodsmith fertilizer project underway in northern England, and those South African units.
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