Can Anglo's copper pivot help thwart renewed takeover bid? [Yahoo! Finance Canada]
BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares) (BHP)
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Source: Yahoo! Finance Canada
Felix Njini 3 min read In This Article By Felix Njini JOHANNESBURG (Reuters) - The speed at which Anglo American shifts to becoming a copper-focused miner may well dictate its ultimate fate - survival as an independent operator, or absorption by a bigger rival such as BHP Group, which earlier this year failed to buy the group. BHP walked away from a $49 billion bid to acquire Anglo in May after it was rebuffed three times. With a six-month block on another approach set to expire at the end of November, a deal is again under scrutiny. Anglo was able to convince investors during BHP's approach that it had a better plan to grow value, focused on shedding underperforming platinum, diamonds and coal to focus on copper, a metal key for the energy transition. If that succeeds, the higher value that comes with copper assets may help keep Anglo safe, one portfolio manager at a Cape Town fund manager said. But the longer it takes to achieve a transformation, the more likely it
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