Shareholders urge BHP to restructure, spin off US oil business

Minority shareholders have presented mining major BHP Billiton with a plan that could potentially unlock up to 51% of value to company’s shareholders.

Fund managers Elliot Associates and Elliot International, which along with affiliates hold a 4.1% interest in BHP, have sent a letter to BHP management suggesting a three-tiered approach to unlocking this value.