Why is that bullish - they had to pay up to get a blocking stake. Now they can have a big say in any takeover, and the decision will be based on politics first, profits last.
RIO is possibly spinning off their Al assets. How does this change things in relation to any cooperation there? It is unlikely they would be cooperative if this was to come about, as China might see it as a lessening of competition and therefore higher prices for them.
I shorted this as I think the premium will be sucked out gradually over the next few days. I am often wrong about these things.
Bad news for shareholders longer term I think.
Ann: Placement , page-8
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$1.65 |
Change
-0.005(0.30%) |
Mkt cap ! $4.773B | |||
| Open | High | Low | Value | Volume |
| $1.65 | $1.67 | $1.64 | $9.982M | 6.048M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 109015 | $1.65 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.65 | 3030 | 1 |
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| AWC (ASX) Chart |