The deal between fmg and vale as fallen through. We have a...

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wales1

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19/12/16

19:29

Post #: 21443900
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Originally posted by jake0002 ↑

I have re-posted this to avoid any unfair comments and misinterpretation of friendly banter.
The reference to a fellow HC poster and s/h, was to a poster who I regard as a friend and colleague from the Sydney meeting of FMS.
A re-post removes any doubt.
cheers

goodaye Trav - most mergers are conducted by way of a T/O or a Scheme of Arrangement. I guess another way to achieve same result, might be for Todd to buy PIOP, or FMS to buy BBIG, or BBIG's assets? Or even both sell their assets into a different entity? For example, maybe Shandong could buy PIOP and BBIG (or its assets)? Have not thought about that.

But even if something other than a T/O or a SofA were to happen, we smaller s/h have protections under Corps Act and ASX Listing Rules.
There are all sorts of laws governing a coy selling off it principle assets, or change of nature of business etc.FMS would need to get s/h approval.
For example, I think FMS would need to get s/h approval if FMS wanted to sell assets worth over 10% of its assets. I guess if PIOP was sold to a party which was not associated with Todd, then Todd could vote. So you are correct there.
IF, big IF, Todd and FMS packaged-up BBIG and PIOP, then it would be worth a lot more than stand-alone assets. So FMS s/h could come out well ahead- who knows?
All just speculation.
But I do agree that Todd will be as "slippery" as they can - because we all know they want unfettered control and access to the PIOP iron ore.

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The deal between fmg and vale as fallen through. We have a perfect opportunity now.vale will wont to blend their ore with fms .thy dont need fmg .this is all about timing. .

FMS Price at posting: 2.3¢ Sentiment: Hold Disclosure: Held
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