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4.5¢ atlas iron limited

Ann: Variation of Takeover Bid, page-45

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243

14/09/18

05:27

Post #: 35591714
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Originally posted by Jmax88 ↑

Tree shake tactics. She probably did get a few shares out of this, there would have been a lot of sitting 4.3c sell orders triggered. If she doesn't get to 87% this move would have cost her nothing, well played Gina.

This is just the beginning.

AFR

Mrs Rinehart's Hancock Prospecting said it was increasing its offer from 4.2¢ to 4.45¢ a share in an attempt to take its Atlas stake from 76.3 per cent to 87 per cent.
However, Fortescue chief executive Elizabeth Gaines was quick to rule out a change in Fortescue's strategic position on Atlas.

"Fortescue currently holds an 11.3 per cent shareholding in Atlas Iron and looks forward to participating in the future of the company," she said.

Fortescue has declared it wants a seat at the Atlas table in future negotiations on berth and channel capacity at Port Hedland.
The 87 per cent threshold sought by Hancock is not enough to trigger compulsory acquisition, but could leave Fortescue as the only other shareholder as Mr Forrest continues to dig in on Atlas

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DYOR:
Sounds like HPPL is trying to take out as many small retailholders as possible, so then there would be 2 left at the table.

HPPL need to offer 6-8cps to get to 87% quicker.

AGO Price at posting: 4.4¢ Sentiment: Buy Disclosure: Held
8 Upvote

0 Great analysis

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