BHP rallying because it the stake in RIO highlights what some people have been saying for a long time... that BHP and RIO are very undervalued. Just like the Private Equity phenomenon that drove the market last year... if you know there are others out there with the cash and willingness to pay higher prices then that is what you will see.
Also BHP potentially rallying because it means it will get RIO , and the parts of RIO it wants, namely iron ore, cheaper without the aluminium assets which will be spun off to Chalcan for top dollar. if this is the scenario, which looks likely, Chalcan has a 12% stake that it will vend into any bid by BHP.
GO BHP!!! Kloppers never wanted aluminium anyway... just iron ore synergies.
BHP rallying because it the stake in RIO highlights what some...
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Last
$108.12 |
Change
-1.820(1.66%) |
Mkt cap ! $40.13B | |||
| Open | High | Low | Value | Volume |
| $109.70 | $110.42 | $107.38 | $133.0M | 1.227M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 9859 | $108.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $108.13 | 647 | 1 |
View Market Depth
| Last trade - 16.10pm 03/09/2024 (20 minute delay) ? |
| RIO (ASX) Chart |