SYDNEY: Mining giant BHP would reap $22 billion in value for shareholders if it restructures into one Australian entity and scraps its dual-listing, a key US hedge fund and activist investor has said. New York-based Elliott Advisors, a significant shareholder in the world’s biggest miner, has been pushing hard for the Anglo-Australian firm to dissolve its costly dual-listed structure.
But unlike its previous proposal of a new company incorporated and listed in Britain, which was rejected by BHP, Elliott has now suggested a single entity incorporated and headquartered in Australia.
“It is beyond serious doubt that unifying BHP’s current, inefficient DLC (dual-listed company) structure would create significant value for shareholders,” Elliott said. — AFP
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