LONDON – BHP Billiton said on Monday the cost of a proposal from hedge fund manager Elliott Advisors to unlock shareholder value would outweigh any benefits.
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The plans would involve scrapping the mining giant's dual corporate structure, demerging its oil business and rejigging its capital return policy. [L3N1HI3HI]
"After reviewing the elements of Elliott's proposal, we have concluded that the costs and associated risks of Elliott's proposal would significantly outweigh any potential benefits," BHP said in a statement.
(Reporting by Rahul B and Barbara Lewis; editing by Jason Neely)