11:24 AM EDT, 05/14/2024 (MT Newswires) -- (Updates with additional details in the third, fourth, and fifth paragraphs, MT Newswires attempt for comment in sixth paragraph.)

Anglo American said it plans to overhaul and simplify its portfolio Tuesday, a day after rejecting the latest acquisition proposal from BHP Group ( BHP ) .

The mining said it intends to divest in steelmaking coal and nickel, demerge Anglo American Platinum, and divest or demerge from De Beers.

Anglo's investors must decide if the team at BHP or the one at the current company is best suitable to deliver value from restructuring, Bloomberg reported Wednesday, quoting BHP Chief Executive Mike Henry as saying at a mining conference in Miami.

BHP will remain disciplined in its acquisition of Anglo and "shareholders must decide which plan creates the greatest value, soonest," Henry reportedly said.

Anglo's decision to spin off Anglo American Platinum signals the condition to divest South African assets before BHP's takeover is possible, Henry was quoted as saying.

Neither BHP nor Anglo immediately responded to MT Newswires' requests for comment.

Price: 58.68, Change: +1.50, Percent Change: +2.62