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Elliott increases pressure on BHP to ditch petroleum

Reuters  |  SYDNEY/LONDON 

By James Regan and Barbara LewisSYDNEY/LONDON (Reuters) - Activist investor Elliott Management raised the pressure for strategic changes at BHP on Tuesday, calling for an independent review of the mining giant's petroleum business.Elliott, which has built up a 4.1 percent stake in BHP's London-listed arm and is urging changes to boost shareholder value, said there were clear signs the market was receptive to a new strategy for BHP."There is extremely broad and deep-rooted support for pro-active steps to be taken by management to achieve an optimal value outcome for BHP's petroleum business ...

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