Maybe this is old news but just in case its not::
"NMDC Ltd, the state-owned iron ore miner, is likely to offer $40 mn-$60 mn for 50% stake in Australia's
Legacy Iron Ore Ltd next week, a source familiar with the development told. In May, NMDC entered into a
memorandum of understanding with Legacy Iron to buy up to 50% stake in the Australian Securities
Exchange-listed company." Dated 22 August 2011
http://www.moneycontrol.com/news_html_files/broker_report/2011/august-2211-40220811.pdf
word on the street - 40 to 60 million offer
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