Going by the offers they made first and second time around and the way in which the board treated the offers they would have to be north of 1.20 at least to get the board to engage with them. The work is done for them, the IO exports will double this year so the longer they take to make another offer, if thats what they are planning, the higher shareholders and the board will insist on it being. The share price is going to head north either way, will it be opportunist driving it up looking for a higher offer in the short term or long term holders waiting for quarterlys once the exports double. 2013 will be a good year for Arrium.
ARI Price at posting:
78.7¢ Sentiment: Buy Disclosure: Held
