DIVERSIFIED MINERS
Activist investor Elliott Management Corp has called on BHP Billiton to immediately review its dual structure after commissioning research that argues reorganizing as a single company in Australia would add more than $22-billion in value to the miner’s shareholders. Creating a unified company, headquartered and incorporated in Australia, with a primary listing in that country and additional listings elsewhere, would cost $391-million, according to the report by FTI Consulting Inc. BHP is the world’s biggest miner and currently operates as two entities based in Melbourne and London.
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