Australia won’t allow BHP Billiton to head offshore – Treasurer

Australian Treasurer Scott Morrison has warned that activist US fund manager Elliott International’s plan to shift mining major BHP Billiton’s primary stock market listing offshore would be a criminal offence and that directors could be held liable. Morrison on Thursday described the proposed plan, which involves restructuring BHP Billiton and scrapping the dual listed structure in favour of a primary listing in London, as “unthinkable” and stressed that it would not comply with conditions set for the miner to operate in Australia.