Anglo Rejects BHP Again as Pressure Builds on Its Strategy
- World’s biggest miner improved its proposal for Anglo by 15%
- Anglo will lay out plans for its business to investors Tuesday
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Anglo American Plc rejected a second approach from BHP Group that valued the miner at $43 billion, as pressure builds on the 107-year old company to lay out a compelling vision to survive on its own.
Anglo shareholders were already demanding the company accelerate a turnaround plan that it’s been working on since the middle of last year. Rejecting BHP’s latest overture will add more pressure on Anglo to explain how it would create more value than by just selling to the rival. It now plans on doing that on Tuesday.