Anglo American shareholder Legal & General Investment Management (LGIM) supports the break-up plan announced by the company last week, it said on Monday, as the deadline approaches for BHP Group to log a formal takeover offer.

The radical plan to divest Anglo’s less profitable coal, nickel, diamond and platinum businesses followed its rejection of two all-share takeover approaches from BHP, the world’s biggest listed mining group, which had proposed a $43-billion deal on the condition that Anglo first spins off its South African operations.