The megamerger between London-based Billiton and Melbourne-based BHP announced with much fanfare in March 2001 will soon be no more.
The combined company, which kept both headquarters and remained dual-listed in the United Kingdom and Australia despite having a common board of directors, announced this week that it would spin off several second-tier assets into an independent global metals and mining company tentatively dubbed NewCo and valued at $14 billion.
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