The other day i wrote;
"Fortescue have increased their stake from 15% owners in the company to now around 31%. What's to say they don't increase their stake once again and bump it up to 50% plus to have full control?"
On reflection, I don't think this would be a good move. They wouldn't have shareholder approval that's for sure, it'd look like a potential hostile take over. I'd rather they just make Alta an offer good enough to keep shareholders in Alta in their corner long term and just as important keep potential bidders completely on the sidelines and totally off-guard. This project is too good to slip through their fingers. I think Fortescue are in prime position to take advantage of this once in a lifetime strategic opportunity.
Tony
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