BHP Urged by Elliott to Restructure

Paul Singer is urging BHP to make significant changes, including a D merger of its US oil assets, simplifying its complex structure, and improving shareholder returns through buybacks. Elliott Management, known for leading dissident shareholder groups, has been in discussions with BHP management and released details publicly. The complex structure of BHP, a legacy of the 2001 merger, poses legal and financial challenges. While some investors see oil as a long-term asset, Elliott's proposals aim to streamline operations and enhance returns.

What concerns does Elliott have regarding management's handling of cash?

What historical merger contributed to the complexities in BHP's structure?