Chinese buying CLR with a 125% takeover premium, coking coal as an input ingredient is as close to Iron Ore as I can draw parallels. Board folded and accept the bid even though related investment firm value the stock at 8 times the bid - no project funding,certainty- money in hand, no competing bid.
100% premium is not a magical number for a bid but competitive pricing tension is.
hypothetical question, page-61
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