Pity the journo can't spell or quote the correct closing...

Pity the journo can't spell or quote the correct closing price... also implies that somehow BRM needed FRS or Wah Nam!

Perth Now

http://www.perthnow.com.au/business/wa-company-news/brockman-dives-as-atlas-targets-ferraus/story-e6frg2s3-1226082929104

BROCKAN Resources shares dived today on the news it’s not likely to play any significant role in iron ore consolidation plays in the Pilbara.

Shares in the company dived 35c, or 11 per cent by close, to $2.85 after Atlas Iron launched a bit for FerrAus.

Both FerrAus and Brockman were takeover targets for Hong Kong-listed Wah Nam International, as part of a bid to consolidate iron ore holdings in the Pilbara and build a company capable of competing in the infrastructure game with the big boys of BHP, Rio Tinto and Fortescue Metals Group.

Wah Nam won effective control of Brockman earlier this month, but its bid for FerrAus is in deep trouble after Atlas Iron trumped its offer this morning.

That risks leaving Brockman out in the cold as other companies look to consolidate their assets while the iron ore sector is still, and Atlas now seems to be in the box seat to continue the roll up of the juniors.