Activist investor Elliott today cranked up the pressure on miner BHP Billiton, calling for an independent review of its petroleum business.
In its latest attack, Elliott also criticised BHP, which is listed in the UK and Australia, for having a “do nothing” approach.
The statement from Elliott comes after BHP dismissed the hedge fund’s “shareholder value unlock plan”.
Elliott unveiled its plans to unlock up to $46bn (£36bn) of value in the firm in early April.
Today, as well as calling for an independent review of the petroleum business, Elliott also made a revised proposal for “unification” under which BHP would remain incorporated, headquartered and listed in Australia.