LONDON, May 14 (Reuters) - Anglo American shareholder Aegon Asset Management said on Tuesday it welcomed a proposed strategy revamp at the London-listed mining firm, as it tries to fend off a takeover bid from the world's largest miner BHP Group.
Aegon AM Investment Director David Pringle told Reuters the strategy laid out by Anglo's management, including demerging or selling its steelmaking coal, nickel, diamonds and platinum businesses, appeared to give investors "a marked simplification of the group with over 50% of profits coming from copper, and a stronger balance sheet providing optionality around capital allocation."
Aegon AM owns 0.23% of Anglo American shares, according to London Stock Exchange data. (Reporting By Sinead Cruise, editing by Anousha Sakoui)
Anglo American (AAL)