BHP Says Costs of Elliott Proposals Outweigh Benefits

BHP has responded to Elliott's proposal, stating that the costs and risks outweigh the benefits. Elliott has proposed unwinding BHP's dual-listed structure, demerging the oil and gas business, and increasing capital returns. The potential spin-off of BHP's $22 billion oil and gas assets is a key point, as BHP is heavily invested in US shale. The timing of such a move is questioned due to low oil prices. Investors have criticized BHP for its oil and gas arm, and Elliott's proposal revisits this issue. The outcome may depend on whether other investors support Elliott.

What are the main proposals that Elliott has put forward to the board of BHP?

How does BHP's dual-listed structure impact its valuation according to the discussion?

What is the significance of the $22 billion valuation mentioned in the context of BHP's oil and gas business?

In what ways have investors historically reacted to BHP's oil and gas business?

What challenges does BHP face in convincing Elliott management regarding their oil and gas business strategy?