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BHP says costs of Elliott plan outweigh benefits

Activist hedge fund seeks to overhaul BHP's corporate structure and spin off its US oil division

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Mr Mackenzie said "the elements of the Elliott proposal ... would not be in the long-term interest of shareholders".

Sydney

ANGLO-AUSTRALIAN miner BHP Billiton said on Wednesday a minor shareholder's proposal to overhaul its corporate structure and spin off its US oil division was flawed and would involve costs far beyond any benefits.

BHP made the comments in a detailed response to a letter from

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