BHP Billiton: Elliott discloses 5% stake.
(CercleFinance.com) - Activist investor Elliott today disclosed a 5% stake in global mining company BHP Billiton and encouraged the latest group's measures to create value for shareholders.
The hedge fund said the election of Ken MacKenzie as new chairman is an "opportunity for action."
In particular, Elliott said that the company's recent statements give confidence regarding a full exit from US shale and a review of BHP's petroleum portfolio, as well as in additional dividend income and share buybacks.
Elliott also called for an unification of BHP's "obsolete" dual-listed company structure.
Shares in BHP Billiton were up 1.8 percent at ,366.5 pence after this disclosure.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The hedge fund said the election of Ken MacKenzie as new chairman is an "opportunity for action."
In particular, Elliott said that the company's recent statements give confidence regarding a full exit from US shale and a review of BHP's petroleum portfolio, as well as in additional dividend income and share buybacks.
Elliott also called for an unification of BHP's "obsolete" dual-listed company structure.
Shares in BHP Billiton were up 1.8 percent at ,366.5 pence after this disclosure.
Copyright (c) 2017 CercleFinance.com. All rights reserved.