re: Ann: Appointment of Goldman Sachs as Fina... Reading between the lines below, they probably only need advice if they have options. i.e more than one bid to consider!
The Australian October 04, 2010
"Sphere Minerals has appointed Goldman Sachs as an adviser, as speculation of a battle for control grows.
Following Singapore-based Sin-Tang Developments emerging with an 8.63 per cent stake last week, Perth iron ore miner Sphere this morning advised it has appointed Goldman as a financial adviser.
Sphere did not appoint an adviser after Deutsche Bank-advised Xstrata lobbed a friendly $428 million cash offer in August.
Argonaut Securities-advised Sin-Tang has been sounding out Spheres largest shareholders, which includes Acorn Capital and Qatar Steel, but it is not clear what Sin-Tangs objectives are.
Sphere rose a further 6 cents to $2.63 in early trade above Xstratas offer price of $2.50, signalling the growing feeling a takeover war could erupt."
re: Ann: Appointment of Goldman Sachs as Fina... Reading between...
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