Elliott Management is willing to back a board member of BHP Billiton to be its chairman upon the retirement of Jac Nasser despite deep reservations about its top management, a source close to the activist shareholder said on Thursday.
Elliott, founded by billionaire Paul Singer, is pushing for a $46-billion overhaul at BHP that includes spin offs, dismantling a corporate structure built on dual listings in London and Sydney and returning more money to shareholders. The Anglo-Australian miner has rejected the demands.
