Definitely not a takeover as that takes a different path.
A merger might be tricky for it would basically be a Chinese company gaining control of another Aust iron ore company - don't think they would get Govt approval and neither they should.
Given the CapEx required to develop Southdown - a partial selldown probably isn't going to produce much upfront cash for Grange IMO - a full divestment to say a RIO or FMG could produce a much better financial outcome for Grange.
Ann: Change of AGM date, page-8
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