Melbourne/Sydney — A second BHP Billiton shareholder has made a public push for changes at the world’s largest miner, with Sydney-based Tribeca Investment Partners pressing the company to sell its US shale assets and overhaul its board. Tribeca, a boutique Australian hedge fund, joined calls by US activist investor, Elliott Management, for an exit from shale to free up capital, saying BHP could reap $10bn. Last month, Elliott urged BHP to unlock value by scrapping its dual-corporate structure, spinning off its entire US oil business, and boosting capital returns. Tribeca, greeting Elliott’s debate as "great to see", sent an eight-page letter to its investors on Thursday titled "Making BHP Great Again". It called for a sale of shale assets, return of capital, and a board and management revamp. "We fear elements of the existing path could leave the company susceptible to ongoing under-performance and may, ultimately, result in this once great global mining force being considerably dim...
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