Last week, radical American activist investors announced plans for mining firm BHP Billiton, the Treasurer Scott Morrison has stepped up to protect Australia’s economic interests.
The plans, proposed by financiers from Elliot Management, would involve scrapping the company’s dual listing in Australia and the UK and ship it offshore to London.
But both the BHP Billiton management and the government are vehemently opposed to the idea.
Morrison hit back at the plans saying, “If foreign corporate raiders think they can come in and take the ‘Big Australian’ out of Australia, they’ve got another thing coming.”
“The consequences of seeking to change that involve criminal sanctions, and I won’t step back from instructing our agencies to take every step they need to take to prevent that from happening.”
The Treasurer should have taken this strong action to block Chinese investors attempting to profiteer from Newcastle Port, but it’s not too late:
Your super funds have a vote, and you need to tell them to Block China’s Buy Up.