After toying with the idea for months, BHP Billiton decided to seek a buyer for its shale-oil business in America. The Anglo-Australian mining company bought assets in America’s shale fields during the boom in 2011, but that left it vulnerable to the slide in oil prices that started three years ago. A campaign by Elliott, an activist hedge fund, urged BHP to sell the business. It is also replacing two directors.?
Another company that is getting out of oil in order to refocus on its core business found a buyer for its assets. After more than half a century in the energy industry, A.P. Moller-Maersk, the world’s biggest shipping line, is selling its oil holdings to Total of France for $7.5bn.
A rare defeat for the sage
Elliott chalked up another victory this week when Warren Buffett failed to buy Energy Future Holdings, which owns a majority stake in Oncor, the biggest electricity distributor in Texas. Elliott, which is EFH’s biggest creditor, opposed a sale to Mr Buffett’s Berkshire Hathaway. EFH is selling itself instead to Sempra Energy in a transaction valued at $18.8bn.
Elliott本周又取得一个胜利。巴菲特收购未来能源公司失败。这个公司拥有德克萨斯最大电网公司Oncor绝大部分的股份。Elliott作为EFH最大的董事，反对出售给巴菲特的Berkshire Hathaway公司。EFH转而将自己以188亿美元的价格卖给了Sempra Energy 。