(MENAFN) It has deep worries over a suggestion by BHP to enter the currently over-backed up fertilizer market, repeating its call for change at the mining giant, Activist shareholder Elliott Management said.
An Elliott spokesman said in an email to Reuters that "BHP is now arguing that it should spend billions of dollars of shareholder money to diversify into potash.""
He said, referring to a recent ads slogan adopted by BHP "This sounds alarmingly familiar and comes as the company proclaims the dubious strategy of thinking big " a concept that has been disastrous for BHP shareholders."
New York-based Elliott, who has urged BHP to divide off its oil business, written off its duplicated listing and return more cash to shareholders, said it shared concerns an worries that raised by shareholders and analysts that extending into potash could be a strategic misstep that could be fatal.
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