Anglo American to Spin Off De Beers Diamond Business in Major Restructuring Move as It Faces Takeover Pressure from BHP Group

Benzinga
Benzinga
  • 7 days ago
Anglo American plans to spin off its De Beers diamond business as part of a wider restructuring amid pressure from BHP Group's takeover advances. The mining company will also divest its steelmaking coal, nickel, and platinum divisions following a strategic review. The accelerated overhaul is seen as a defense tactic against a hostile bid from BHP after rejecting its latest $42 billion takeover offer. Selling off non-core assets could attract interest from other potential buyers for parts of the business. Shares of Anglo American fell over 3% in early Tuesday trading.

Recommended

0:36
I
Up next
Sony's Profit Drops 7% as PlayStation 5 Sales Fall Short, Weaker Sales Expected in 2025
Benzinga
0:35
Walmart Trims Corporate Staff and Calls Remote Workers Back to the Office
Benzinga
0:38
Major Airlines File Lawsuit Against Biden Administration Over Flight Fee Rule
Benzinga
0:33
GameStop and AMC Shares Soar as 'Roaring Kitty' Spurs Trade with Social Media Post
Benzinga
0:34
Coinbase Faces Major Outage as Users Locked Out as Cryptocurrency Exchange Goes Offline
Benzinga
0:41
Trump's Former Lawyer Michael Cohen Details Scheme to Pay Off Accusers During 2016 Campaign
Benzinga
0:36
Home Depot Beats Q1 Earnings Expectations, but Revenue Falls Short as Customers Delay Renovation Projects
Benzinga
0:41
Hotter-than-Expected Prices Raise Rate Cut Doubts as Prices Rise Over 2% in April
Benzinga
0:34
Alibaba's Earnings Report Triggers 5% Stock Drop as Net Income Plunges 86% YoY
Benzinga
0:38
Explosives Detonated to Clear Collapsed Bridge and Pave the Way for Restoration of Baltimore's Busy Port
Benzinga
0:34
Tesla Rehires Former Director of North American Charging, Reviving Supercharger Team
Benzinga
0:35
Trump Allies Rally Behind Former President at Manhattan Trial, Fueling VP Speculation
Benzinga
0:45
President Biden Takes Tough Stance on China with New Tariffs on Electric Vehicles
Benzinga
0:41
Tesla's Layoffs Raise Questions About Growth of Supercharging Network
Benzinga
0:37
Stellantis Partners with Leapmotor to Expand Global Export of Chinese-Made Electric Vehicles
Benzinga
1:04
China Urges Tech Giants To Shift Away From Nvidia And Other Foreign Chip Makers, Boost Domestic AI Chip Purchases: Report
Benzinga
0:35
Warren Buffet's Berkshire Hathaway Sheds Apple, Paramount Stock
Benzinga
0:40
Cathie Wood's ARK Invest's Third-Largest Holding Is this Little Known Biotech Company Harnessing AI for Drug Treatments
Benzinga
0:34
Shein's Quest for Membership in NRF Hits Roadblock as It Pursues U.S. IPO
Benzinga
0:36
Squarespace Agrees to $6.9 Billion All-Cash Deal, Going Private with Permira
Benzinga
0:52
GALA VIDEO - DE BEERS - BUBBLE LIFE
Gala.fr
1:56
De Beers calling on young jewellery designers
South African Breaking News
1:22
De Beers called on Orange Business Services
Orange
1:38
De Beers plans to sell lab-grown diamonds at a cheap rate
TomoNews US
3:28
De Beers Group's Report Shows How Diamonds Help Communities Sparkle in Canada | De Beers
3BL Media
3:58
Botswana Businesses Benefit from De Beers Investment | De Beers Group
3BL Media

Benzinga

0:30
NYC-Dublin Portal Reopens with Enhanced Security Measures
Benzinga
0:39
UK's AI Safety Institute Expands to the US, Set to Open US Counterpart in San Francisco
Benzinga
0:40
'Copper Is the New Oil:' Analyst Predicts Copper Could Surge 50% Driven by AI and Green Energy Revolution
Benzinga
0:42
Red Lobster Files for Chapter 11 Bankruptcy as Pandemic and Industry Challenges Impact Iconic Seafood Chain
Benzinga
0:34
Nvidia Set to Release Q1 Earnings: Analysts Predict Significant Growth, But Signs of Slowing Momentum
Benzinga
0:44
AI Godfather Geoffrey Hinton Urges British Government to Adopt Universal Basic Income
Benzinga
1:43
Anglo American to sell its five Queensland coal mines after rejecting BHP takeover bid
ABC NEWS (Australia)
0:44
Mining Giant Anglo American Rejects BHP's $39 Billion Takeover Bid, Citing Offer Was 'Significantly Undervalued'
Benzinga
4:13
Business heavyweights swindled in air conditioner fraud
ABC NEWS (Australia)
2:03
Mining giant admits underpaying nearly 30,00 workers
ABC NEWS (Australia)
2:41
Mining giant admits underpaying nearly 30,000 workers
ABC NEWS (Australia)
2:23
Demolition at the site of the old BHP Newcastle Steelworks
Newcastle Herald

Featured channels

More from
Billie Eilish
More from
TIME
More from
SportsGrid
More from
Billboard
More from
Travel and Leisure
More from
TMZ