AFIC shuts down BHP activists over ‘agitating change’

Original article by Peter Ker
The Australian Financial Review – Page: 13 & 18 : 11-Oct-17

Activist hedge fund Elliott Management is believed to have renewed its push for a restructuring at BHP Billiton. However, Australian Foundation Investment Company MD Ross Barker says investors should give BHP’s new chairman Ken MacKenzie sufficient time to make his mark on the resources group before advocating change. He adds that BHP’s management team seems to be acting in the interests of shareholders and there is no need for change at present.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, ELLIOTT MANAGEMENT CORPORATION, AUSTRALIAN FOUNDATION INVESTMENT COMPANY LIMITED – ASX AFI, DJERRIWARRH INVESTMENTS LIMITED – ASX DJW, CGI GLASS LEWIS PTY LTD, RIO TINTO LIMITED – ASX RIO

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