Fe spot price Fri back up to $106, relieving a bit of pressure from FMG. Don't forget that Stokes bought into IOH at approx .20c per share so he's still well in the money on this one. If he thought he could get a stake in FMG at a distressed price, he'd be in it in a flash IMHO. Trouble for Kerry is he has an embarrassment of opportunities before him & he can really on pick one. He's got the option to sellout of Cons Media & take $500m profit or plunge in (subject to regulatory approval) for an expensive takeover, or buy/lease back FMG plant & machinery or presumably also take a position if Twiggy relents & does a quick discounted issue. Choices choices, & you thought your life was complicated.
IOH Price at posting:
85.5¢ Sentiment: ST Buy Disclosure: Held
