Macquarie have reiterated their view that none of the USD$10B proceeds of the shale assets sale will be paid as a special dividend ... they believe it will be all "distributed" via on market buy backs being 6B in Australia and 4B in the UK. Going to be some disappointed people out there if that is the case
From Macquarie report today - "BHP announced the US$10.8bn sale of its US Onshore assets (Shale) in two separate transactions on 27 July. Completion of the transaction is expected by the end of October, with net proceeds from the sale to be returned to shareholders by the end of 2018 or early 2019. We assume a US$6bn on market ASX buy-back and US$4bn UK on market buy- back in our forecasts for BHP"
BHP - Shale Proceeds
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