April 10 (Reuters) - BHP Billiton Plc BLT.L :
* BHP Billiton notes Elliott proposal
* Regularly reviews opportunities to create value
* Those reviews have included key elements of Elliott's proposal
* Concluded that costs and associated risks of Elliott's proposal would significantly outweigh any potential benefits.
* Notes publication of letter from Elliott and Elliott , , which outlines proposal for changes to group's DLC structure, asset portfolio, capital management
* We have had dialogue with Elliott over many months, consistent with our commitment to shareholder engagement
* Unification of DLC in manner proposed by Elliott would require approval by Australian foreign investment review board.
* BHP Billiton will consider further its detailed response to proposal and will make a further announcement in due course.
* There is no obvious discount in BHP Billiton's trading multiples relative to weighted average of relevant mining and oil and gas peers.
* Disclosed information market needs to fully value petroleum business
* Have not yet identified sufficient benefits to outweigh significant costs which would be incurred in unifying DLC
* Elliott's demerger proposal is based on a view that investors would ascribe a higher value for these assets in a separately listed entity Source text for Eikon: Further company coverage: BLT.L
(Bengaluru Newsroom)