BHP rejects Elliott's overhaul proposals as flawed, too costly

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

BHP Billiton (NYSE:BHP) says Elliott Management's proposal to overhaul its corporate structure and spin off its U.S. oil division is flawed and would involve costs that far outweigh any potential benefits.

Among various objections, BHP says unifying the corporate structure in the manner proposed by Elliott could destroy at least $1.3B in value to save less than $2.5M a year.

BHP -3.3% premarket.