Coronation, NinetyOne prefer ‘all-in’ Anglo American buyout | Business
Anglo American could look fundamentally different in 12-month’s time. (Pavlo Gonchar/SOPA Images/LightRocket via Getty Images)
Heavyweight asset managers Coronation Fund Managers and Ninety One both thumbed their noses at BHP’s proposed offer to essentially buy out the non-domestic parts of rival miner Anglo American.
The world’s largest mining group shocked markets last week when it proposed a £31.1 billion (about R720 billion) offer for Anglo, minus its SA iron ore and platinum assets, a plan that has irked Mineral Resources and Energy Gwede Mantashe.
Under that proposal, BHP would spin off Anglo American Platinum and Kumba Iron Ore to keep it free of any SA-based assets.
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