BHP shareholders approve unification resolutions
The shareholders of Anglo-Australian multinational BHP have approved the board decision to unify its corporate structure under its existing Australian parent company, BHP Group, the company said on January 21.
BHP has been operating under a dual-listed company corporate structure since 2001 when it merged with Billiton. The dual-listed company structure comprises two parent companies; BHP Group Limited in Australia and BHP Group Plc in the UK, with separate stock exchange listings.
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The company last month said unification would enable it to undertake certain transactions more simply and efficiently than it can under the dual-listed company structure. Recently, the Australian watchdog approved Woodside’s proposed acquisition of BHP's oil and gas business.
Unification is expected to be complete by January 31, subject to receipt of remaining regulatory approvals and UK Court sanction, BHP said.