not a blocking stake actually because merger will be by scheme of arrangement in both jurisdictions - requiring 50% of shareholders with 75% of shares to implement
this MAY drive rio and bhp closer as preferred partner rather than wait for others to come in
kloppers may have got an early xmas present as he is known to not like aluminium.. he and flick alcan to alcoa/china and get their 12% voting in favour of a deal..
i suspect that now others will come crashing in for a seat
albanese screwed up with his 4.25 to 1 rio "ceiling" - if you move the point in time a buyback is assumed his ceiling is 3.75 to 1.....................
time now to get it over and done with both boards supporting before we end up with 20 other gatecrashers at the table wanting their little bits and pieces
chinese buy 12 percent of rio tinto, page-26
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$117.03 |
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Mkt cap ! $43.52B | |||
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