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Activist Elliott rejects BHP criticism of restructuring plan
April 11, 2017 / 1:27 PM / 7 months ago

Activist Elliott rejects BHP criticism of restructuring plan

LONDON, April 11 (Reuters) - Hedge fund Elliott said on Tuesday it struggled to understand the “dismissive and premature nature” of BHP Billiton’s response to a restructuring plan it had proposed.

Elliott called on BHP to provide “a more thorough and reasoned assessment” of its plan, which BHP had swiftly rejected on Monday.

BHP Billiton claimed the costs of the proposal - which called on the company to scrap its dual corporate structure, alter its capital return policy and demerge its oil business - would outweigh any benefits. (Reporting by Maiya Keidan; editing by Simon Jessop)

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