News: BHP BHP Group Announces Agreement To Pursue A Merger Of Petroleum Business With Woodside, page-26

BHP board has a very poor track record when it comes to major expenditure, acquisitions and divestment's let alone undoing the dual listing. They tend to downplay the risks and concentrate on the potential.

It may take up to a decade to find out if all these changes were in fact value adding for shareholders or will a few of them be written down as history proves. Generally these major events co-incide with changes in CEO as each tries to put their stamp of authority during their tenure. It seems there is almost a mysterious hurry to do these changes at the same time? I can't see major holders putting that much pressure on the board to their own detriment?

Just as a few examples for people to check on HBI plant in WA in the 1990's and Magma Copper, US Shale, US onshore petroleum, but there is a litany of such failures lying in the corridors of BHP House.