(Bloomberg) BHP Billiton is being targeted for an overhaul by sometimes-activist Elliott Management Corp., which is urging the world’s biggest mining company to unify its corporate structure, spin off more assets and improve capital returns.
The resources giant, which has two separate legal entities listed in Sydney and London that are run as one group, should unify into a single Australian-headquartered company, Elliott said in a press release Monday. The New York-based hedge fund is also urging BHP to seek a demerger of its U.S. petroleum business, which Elliott said is worth about $22 billion.
