Both stocks rallying following the news. Remember MIN is effectively being diluted by the merger, issuing more shares, yet the stock prise is rising, the market sees the value adding of the merger (despite the dilution) and is pricing MIN accordingly at present....I can see $6+ before the takeover is actually complete (providing a higher bidder doesn't roll up?!)
Together, POL and MIN will form a formidable combination. POL has the resources, MIN has the ability to fund/execute much of the capex/opex costs of production internally.
Additionally, the combined companies could hold more sway in getting stage 2 of the yilgarn project approved (bungalbin etc).
Bit busy at the moment to post my full thoughts, however I am very pleased with the proposed takeover and look fwd riding a rising MIN stock into the future!
cheers.
POL Price at posting:
43.0¢ Sentiment: Buy Disclosure: Held
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