At Arconic, it's aiming to oust Chief Executive Officer Klaus Kleinfeld and replace four directors. Shares in Melbourne-based BHP surged as much as 5.8 percent in London and closed 4.6 percent higher in Sydney, suggesting some investors reckon Elliott's effort will bear some fruit. "They play a useful role in terms of putting pressure on management, pushing agendas," John Stopford, head of multi-asset income at Investec Asset Management, said in an interview on Bloomberg Television on Monday. "Obviously, to some extent, it's self-serving so I'm sure they are benefiting quite nicely from the bounce we are seeing in BHP Billiton's share price." Shareholder Value? Elliott, referring to talks already held with BHP management, said the changes it put forward could boost shareholder value by about 50 percent.