Apr
10
Hedge Fund Seeks Spinoff of BHP Billiton’s U.S. Oil Business
By
Paul E. Singer, founder of the hedge fund Elliott Management, in 2012. CreditSteve Marcus/Reuters
With an ever-growing war chest — now some $33 billion — the hedge fund Elliott Management has chosen to take on bigger and more complex targets for its brand of shareholder activism.
Now, Elliott has set its sights on reshaping the mining colossus BHP Billiton, proposing steps including a spinoff of the company’s oil operations in the United States.
The push to shake up BHP Billiton, one of Australia’s biggest companies, is yet another ambitious effort by Elliott and its founder, the billionaire Paul E. Singer, to profitably force change at a corporate giant…
Hedge Fund Seeks Spinoff of BHP Billiton’s U.S. Oil Business
