Elliott Advisors, the activist investor stirring up shareholders at companies around the world, has stepped up a campaign against BHP Billiton.
The US-based hedge fund launched a billboard campaign in Australia today which plays on BHP's slogan - "Think Big". It argues BHP shareholders haven't benefited from thinking big, and instead the board should "Think Smart".
Forty billboards across Sydney, Melbourne, Brisbane and Perth went up yesterday to target Australian retail investors.
Elliott has been embroiled in a long-running dispute with BHP over the direction of the company. The firm has demanded an overhaul of the entire board of BHP along with repeated calls for the company to spin off its US shale business and unify its corporate structure.
Elliott and BHP declined to comment on the campaign.