MELBOURNE, Australia—An activist investor has urged BHP Billiton Ltd. to spin off its U.S. petroleum assets and unify its dual U.K.-Australia structure to unlock shareholder value. Elliott Management Corp. said Monday it sent a letter to BHP’s directors outlining its plan. In the letter, the fund manager also called for the adoption of a consistent capital-return policy that would seek share buybacks rather than using cash for what...

Source: Wall Street Journal April 10, 2017 07:30 UTC