Melbourne — Activist investor Elliott Management has called on BHP Billiton to immediately review its dual structure, after commissioning research that argues reorganising as a single company in Australia would add more than $22bn in value to the miner’s shareholders.Creating a unified company, headquartered and incorporated in Australia, with a primary listing in that country and additional listings elsewhere, would cost $391m, according to the report by FTI Consulting. BHP is the world’s biggest miner and currently operates as two entities based in Melbourne and London.BHP’s board should publicly commit to its own review by the time the company announces half-year earnings on February 20, Elliott said in a letter to chairperson Ken MacKenzie, reigniting its campaign against the dual-listing structure that was made public in April 2017. New York-based Elliott, run by billionaire Paul Singer, is the second-largest holder of BHP’s London-listed stock and has also called on the miner ...

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