BHP Billiton (BHP)

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Storytelling: the three headline reasons slide · 70%

list/bullet: We see the following material issues in relation to the US petroleum business: A. It provides no meaningful diversification benefits to BHP as a whole B. There is a lack of synergies between BHP’s US petrole

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breakup-spinoff 90%

The slide argues for the demerger of a business unit to unlock shareholder value.

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BHP Billiton (BHP) · slide 20