This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

BHP Billiton to Spin Off Assets Into Separate Company

Ruben Ramirez
8/19/14 9:38 AM EDT
The world's top miner, BHP Billiton, said it will spin off several of its lower-performing assets into a new global mining and metals company which will be listed in Australia. Several of the assets which will make up the new company were part of Billiton when BHP acquired the company in 2001. The yet unnamed company, dubbed NewCo, will focus on aluminum, coal, manganese, silver and nickel. BHP said it will continue to focus on iron ore, copper, coal, potash and petroleum. Shares of BHP declined in London trading after the announcement as investors digested the news. The Deal's Paul Whitfield says it could be challenging for BHP shareholders because NewCo will only trade in Australia and some funds are not allowed to hold securities which are not traded on their local exchange. TheStreet's Ruben Ramirez spoke with Whitfield about what the spin off means for BHP.
Stocks in this video: BHP

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV

Brokerage Partners

Top Rated Stocks Top Rated Funds Top Rated ETFs