May 15 (Reuters) -
* Elliott - Elliott responds to BHP's approach to unlocking shareholder value
* Elliott - calling for an in-depth, open and timely independent review of BHP's petroleum business
* Elliott - under revised proposal, BHP would stay incorporated in Australia, Australian headquartered and Australian tax resident
* Elliott - under revised proposal, BHP would retain full ASX and LSE listings, with ordinary shares listed on ASX.
* Elliott - offers BHP new approach as solution to regulatory concerns raised in recent feedback on unification ideas in shareholder value unlock plan Source text for Eikon: ID:nBwNkfbWa Further company coverage: BHP.AX