Diamond giant De Beers faces spin-off amid wider restructuring as Anglo American takeover pressure mounts
Publishing timestamp: 2024-05-14 06:26:09
Summary
Anglo American plans to spin off its De Beers diamond business in a strategic overhaul to fend off takeover bids. Shares fell over 3% after the announcement, with the CEO stating that the restructuring will provide greater value to shareholders. The move comes after rejecting an improved bid from BHP Group, with analysts seeing it as a defense tactic and potential strategy to attract other bidders for non-core divisions.
Sentiment: MIXED
Keywords: bhp group ltd, anglo american plc, business, business news,