(Bloomberg) — BHP Group Chief Executive Officer Mike Henry said investors must decide whether his team or the rival one at Anglo American Plc is best positioned to deliver value from their respective restructuring plans.
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Henry’s counterpart at Anglo, Duncan Wanblad, announced on Tuesday that the storied mining company will exit diamond, platinum and coal mining, as it fends off a £34 billion ($43 billion) bid from BHP. The BHP CEO said his company would remain “disciplined” in its pursuit of Anglo.
“Shareholders must decide which plan creates the greatest value, soonest,” Henry said at a mining conference in Miami. “Which team has the better track record of execution.”
Anglo has rejected two offers, saying that BHP’s condition to spin off South African assets before the takeover was unworkable. However, Anglo’s own plan to spin off its Anglo American Platinum Ltd. unit is “a pretty clear indicator that it is doable,” according to Henry, who cited previous spinoffs by both companies.
Read More: Anglo Goes for Bold Breakup Plan in Move to Fend Off BHP
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