Elliott’s proposal to demerger BHP Billiton roundly rejected by brokers

Time marches on and the issues that loomed large last week give way for new considerations. This week, the consensus seems to be that Cyclone Debbie has been less severe than Cyclone Yasi, but a letter to BHP Billiton by investor Elliott Management has set a new cat amongst the pigeons, with a proposal of demerger, collapsing of dual listing. Meanwhile, reratings of Asaleo and The Reject Shop concern analysts.

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