Yes, it certainly was a diabolical takeover. Still can't believe a limousine company managed to get so many colleagues in Singapore and Hong Kong on board to get the requisite number of shares to vote in support. I am however grateful that we did manage to get $1.50 per share cash as part of the deal rather than the original worthless Wah Nam scrip.
I honestly don't know how long it takes for the WA government to get things through, but I can't help but thinking there's ulterior motives here for the delay in approving the Mulga Downs spur line - not Chinese related. It is known that Hancock has been unable to get FMG to co-operate in allowing Hancock to build a section of the spur line adjacent to their (albeit about 100 metres apart), so revised EPA put in with alternative route out of FMG's zone. Gina is known to be a staunch Lib supporter and Forrest is now a green warrior, so the conspiracy theorist in me says the Labor Party is not doing anything to help Gina's project move along smoothly in the administrative process.
BCK Price at posting:
2.3¢ Sentiment: None Disclosure: Held
