BHP says cost of Elliott Advisors proposal would outweigh benefits
LONDON BHP Billiton (BHP.AX) (BLT.L) said on Monday the cost of a proposal from hedge fund manager Elliott Advisors to unlock shareholder value would outweigh any benefits.
The plans would involve scrapping the mining giant's dual corporate structure, demerging its oil business and rejigging its capital return policy. [L3N1HI3HI]
"After reviewing the elements of Elliott's proposal, we have concluded that the costs and associated risks of Elliott's proposal would significantly outweigh any potential benefits," BHP said in a statement.
(Reporting by Rahul B and Barbara Lewis; editing by Jason Neely)