The BHP split

The market did not immediately support BHP's demerger ... but history suggests demergers work.

Never judge a spin-off by first impressions: Earlier today (Wednesday, August 14) global markets gave a cold shoulder to news of a demerger at our biggest company and the world's biggest miner BHP. The 'big Australian' fell a full 4% on the ASX following the demerger announcement.

But if you understand the parable of the tortoise and the hare, then you also understand what’s likely to happen in the future investment performance of BHP Billiton and its NewCo spin-off.

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