New tilt in BHP war

THE vulture hedge fund agitating for a dramatic shake-up at BHP Billiton is switching its focus to rank and file investors.

Fresh from meetings with major Australian institutional investors, US fund Elliott Management will begin wooing the mining titan’s retail investor base using social media and a possible advertising campaign.

Elliott updated its “Fixing BHP” website over the weekend, calling on the Aussie miner to “Think Smart” rather than “Think Big” and asking small investors to register for updates.

The advice takes a swipe at BHP’s new rebranding exercise and Think Big campaign, which was launched, in part, to shore up support among retail investors. Such investors account for more than 30 per cent of its Australian register.