Bloomberg: BHP Billiton working with Goldman on Elliott defense

|About: BHP Billiton Limited (BHP)|By:, SA News Editor

BHP Billiton (NYSE:BHP) is working with Goldman Sachs as it responds to activist investor Elliott Management’s calls for strategy changes, Bloomberg reports.

Goldman has been providing advice to BHP since Elliott first approached the Australian company several months ago, according to the report.

Goldman was one of BHP’s two main advisers on its 2008 hostile takeover bid for Rio Tinto, and was the lead bank that worked on BHP’s 2015 spinoff of South32; the firm ranked third among advisers on acquisitions involving Australian companies last year, trailing only Macquarie and UBS.