Original article by Matt Chambers
The Australian – Page: 20 : 8-Feb-18
A report produced by FTI Consulting on behalf of Elliott Management estimates that the financial benefits of abolishing BHP Billiton’s dual-listed structure could be worth about $US22bn. However, some $US14.1bn of this figure is based on the average performance of other companies that have scrapped dual listings. The report also concludes that shifting to a primary listing in Australia would release some $US8.7bn worth of franking credits, as the proportion of Australian investors on BHP’s share register would rise. BHP’s own cost-benefit analysis shows that scrapping the dual listing would result in costs of $US1.2bn.
BHP BILLITON LIMITED – ASX BHP, ELLIOTT MANAGEMENT CORPORATION, FTI CONSULTING INCORPORATED