(Supplied/Anglo American)
The executives have already begun conversations with key stakeholders, focusing on explaining the detail of the existing $39 billion (around R740 billion at the time) proposal — currently back on the drawing board after it was rapidly rejected by its target — and its benefits, according to people familiar with the matter.
Despite its own historic links, BHP is starting on the back foot in South Africa, where the now London-based Anglo was founded and remains a household name, after its approach for the smaller miner last week caught senior officials off-guard. BHP’s complex proposal includes a plan for Anglo to spin off its Johannesburg-listed platinum and iron ore units before an eventual takeover of the remaining assets.
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