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Hedge Fund Elliott Raises Stake in BHP in Push For Change

(Reuters) Hedge fund Elliott Management has raised its stake in BHP Billiton (BHP.AX) (BLT.L) to 5 percent, bolstering its position to agitate for change at the top global miner, but signaled its support for the incoming chairman. New York-based Elliott launched its effort in April, at which point it held a 4.1 percent “economic interest” in BHP’s UK-listed shares, calling for the company to quit all or part of its petroleum business, boost returns and ditch its dual listing.

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