Billiton name to disappear from BHP
Miner wants to emphasise its Australian origin
Miner BHP Billiton has announced it will drop the name "Billiton" in a rebranding exercise to build its standing as a major Australian company rather than a multinational. The Australian roots of the world’s biggest miner stretch back to 1885. It became BHP Billiton in a merger with the South African company that bore that name in 2001. Chief external affairs officer Geoff Healy said a new "think big" advertising campaign was designed to demonstrate the important role BHP played in the Australian economy. BHP would also change its logo, he said. The rebranding comes at a sensitive time for the company, with US-based hedge fund Elliott Advisors, a significant shareholder, pushing for a restructure and arguing that as much as 50% more value in the stock could be unlocked. Elliott Advisors wants to dissolve BHP’s costly dual-listed structure and have its assets transferred to a new company that would be incorporated and listed in Britain. In May, BHP treasurer Scott Morrison warned tha...
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