Activist Investor Elliott Management Pushes for Changes at BHP
In particular, they are seeking an independent review of the company's petroleum business.
Activist Investor Elliott Management is pushing for changes at mining company BHP. In particular, they are seeking an independent review of the company's petroleum business.
Among their demands, Elliott Management wants to see BHP end their dual-listing, spin off oil and gas assets in the U.S. and increase returns to shareholders. BHP has rejected all of these proposals.
The activist investor currently has a 4.1% stake in BHP.
Elliott Management wrote in a letter to BHP's management that "There is extremely broad and deep-rooted support for pro-active steps to be taken by management to achieve an optimal value outcome for BHP's petroleum business following a formal open review"
This article was written by a staff member of TheStreet.
