Reported 4 months ago
Anglo American Plc Chairman, Stuart Chambers, and the board rejected a $49 billion takeover bid from BHP Group, leading to the dismantling of the 107-year-old company under CEO Duncan Wanblad's leadership. Wanblad, who inherited a struggling company, now aims to save Anglo by breaking it apart, exiting platinum and coal, and either selling or spinning off De Beers. This decision has put pressure on Wanblad to deliver on a dramatic turnaround plan while under the scrutiny of rivals and shareholders who saw a 39% premium walk away. The rejection was based on BHP's requirement for Anglo to exit its South African units, which was a major hindrance to the deal. If Wanblad fails to deliver, Anglo remains a potential target for bidders in the future, especially for its copper assets.
Source: YAHOO