Elliott calls Barcelona meeting with BHP "constructive"

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

Elliott Management says yesterday's meeting with BHP (BHP +1.8%) CEO Andrew Mackenzie in Barcelona to discuss potential strategic changes at the mining company was "constructive."

Elliott says it had a private meeting with Mackenzie but does not provide further details; it was the first time BHP had met with Elliott since the fund went public with a $46B overhaul proposal on April 10.

Elliott is about half way to achieving its goal of extracting better returns out of BHP simply by putting pressure on the company's management and board to do more in the name of shareholder value, Reuters' Clyde Russell writes.