â– Imminent vote on South32 spin-off
â– Project deferral at Port Hedland export terminal
â– Third-quarter production update
IC TIP:
Hold
at
1555p
Next week, shareholders in BHP Billiton (BLT) will vote on whether to approve the planned spin-off of South32, an entity comprised of the group's non-core aluminium, coal, nickel, and zinc assets. If approved, shareholders will receive one South32 share for each group share currently held, with holders of 10,000 shares or fewer entitled to a cash option. All very straightforward, but there are mixed views as to whether the deal will unlock value for shareholders.