(Reuters) Anglo-Australian miner BHP Billiton (BHP.AX) (BLT.L) said on Wednesday a minor shareholder’s proposal to overhaul its corporate structure and spin off its U.S. oil division was flawed and would involve costs far beyond any benefits.
BHP made the comments in a detailed response to a letter from Elliott Advisors seeking the end of a structure that bases the firm in both London and Sydney, claiming that and other measures could unlock up to $46 billion (£36.84 billion) in shareholder value.
