Attention will now turn to Anglo chief executive Duncan Wanblad’s bid to break up the business.
Under pressure from BHP, he recently unveiled radical plans to sell De Beers diamonds and slim down investment in the UK Woodsmith mine among other proposals.
BHP had wanted to buy Anglo American and spin off its two South African businesses, Amplats and Kumba.
Anglo said the spin-off proposal was “unprecedented”, with concerns that regulators could reject the idea.
The London-listed miner said BHP had failed to come up with a new takeover structure that would protect shareholders.
Anglo said: “BHP continues to restate its belief that the risks of its complex structure are not material, yet has repeatedly and consistently stated both publicly and during the engagements that it is unwilling to amend its proposed structure to assume these risks.”
Chairman Stuart Chambers thanked shareholders and…
