BHP's proposal for Anglo American to spin off platinum and iron ore subsidiaries ahead of a takeover would likely require approval from South African regulators, according to a government agency.
Under BHP’s offer, Anglo would need to first divest its controlling interests in Kumba Iron Ore and Anglo American Platinum, both of which are listed in Johannesburg and operate assets in South Africa. Last week Anglo rejected the initial $39 billion proposal from the Australian mining giant.
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