Secondly; that rail link is a political and strategic must-have. China, Russia, the Mongolian President (T's "best friend") want it because Continental Asia's trading block is their future, now US Protectionism is here to stay. China needs 100 more power stations currently, and they'll need lots of "clean" blended coal. Russia certainly wants to sell them (and Europe) their coal too, via that shared rail-link.
BTW, i just noticed, AKM went into a trading halt a day after this news hit? hmm.
To be clear, my view is that 2.1 cents for control (51%) is destructive and T must be testing Australian shareholder nerve and smarts by rushing through this lowball offer....all before dfs and pfs? hmm?
If it's rejected he'd have to bid sensibly to save his current monies invested and appease the powers that be who want this coal/rail strategy delivered. I may not be a shareholder anymore but this is really fascinating stuff, worthy of serious focus, because its a choice between 3 scenarios now-
Vote yes to cede all power and any or fair return on capital,....2 No for better terms/Bid...or 3 . T walks and we have 11 mil and a project thats still stalled but options to consider other investments and you'd retain the democratic rights of an Australian controlled entity. (Democracy's not so respected on the Asian continent.)
On another note, good to see FMS shareholders had a little minority win in our democratic system after this atypical minority share performance.
(20min delay)