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Welcome to the BusinessNow blog for Monday, April 10.
23 MINUTES AGO | 3.57PMBHP shares jump on activist’s spur
BHP Billiton (BHP) shares surge 4.8pc to a 6-week high of $25.79 surge on restructure recommendations.
Activist hedge-fund Elliott Management Corp wrote to BHP shareholders urging a unified corporate structure, asset spinoff and improve capital returns, Bloomberg says.
Elliot says BHP should unify into a single Australian-headquartered company, demerge its US petroleum business, and return capital through buybacks that would maximize tax credits and discourage expensive cash acquisitions.
Elliot has already spoken to BHP management, saying the changes could boost shareholder value by about 50 percent. Elliott said it owns about 4.1 percent of BHP’s London-listed shares and has rights to acquire 0.4 percent of its Australian stock, according to Bloomberg.
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Last
$40.88 |
Change
0.630(1.57%) |
Mkt cap ! $207.3B | |||
| Open | High | Low | Value | Volume |
| $39.90 | $40.90 | $39.83 | $380.0M | 9.386M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5000 | $40.80 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $40.88 | 15880 | 2 |
View Market Depth
| Last trade - 16.10pm 21/08/2024 (20 minute delay) ? |
| BHP (ASX) Chart |