Elliott Management Increases Its Holding In BHP

(RTTNews) - Activist shareholder Elliott Management Corp. disclosed that it increased its holding in Anglo-Australian mining giant BHP (BHP.AX, BLT.L, BBL, BHP).

Elliott increased its stake in BHP's London-traded shares to 5 percent, from a 4.1 percent interest in April. The fund has an economic interest in 0.5 percent in BHP's Sydney-listed shares, according to its website.

Elliott is continuing to press for BHP to enhance returns, simplify its corporate structure and overhaul its oil and gas unit. Recent company statements indicate incoming chairman Ken MacKenzie is likely to "heed shareholders' calls to take constructive steps to enhance value," Elliott said.