BHP Skipping Buyback Would Be ‘Poor Signal,’ BlackRock Says
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BHP Billiton Ltd.’s biggest shareholder, BlackRock Inc., said the world’s biggest mining company should start another share buyback because failing to do so would send a “poor signal” to the market.
BHP completed a $10 billion buyback in Sydney and London in June, six months ahead of schedule. The Melbourne-based company agreed to buy Petrohawk Energy Corp. last month for about $12.1 billion.