Hancock can offer LTR shares, or any other financial instruments, to STX holders, but I very much doubt she would offer her LTR stake. She spent c.1.2bn buying her 18.5% stake at an av price of $3/share. That stake is currently worth around 570mn which is nowhere near enough to be used to buy out STX. By offering her LTR stake, she would be essentially be crystalising her loss in that position, at or near the bottom of the lithium cycle, not to mention giving up her the strategic blocking position in LTR that she had built up. Even if she offers LTR and a bit of cash, STX board will simply send it straight back to her with a polite royal salute.
Last but not least, since when is 18.5% a "controlling" stake?
This theory is so far out of the reality that it doesn't even belong on the practice pitch, but back to the U10 junior training camp.
618
Hancock can offer LTR shares, or any other financial...
Add STX (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
22.0¢ |
Change
-0.010(4.35%) |
Mkt cap ! $629.6M | |||
| Open | High | Low | Value | Volume |
| 23.0¢ | 23.3¢ | 22.0¢ | $1.238M | 5.531M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 327178 | 22.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 22.5¢ | 318446 | 8 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
|
|||||
|
Last
22.0¢ |
Change
-0.010 ( 3.80 %) |
||||
| Open | High | Low | Volume | ||
| 22.5¢ | 23.3¢ | 22.0¢ | 3834406 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| STX (ASX) Chart |