This bid of $3.30 seems too low but it just might stir Fortesque into making a counter bid.
It seems too good an opportunity for Fortesque as it would be ideal for their operation, particularly so considering that the BCI quality of iron ore is reported to be superior to theirs.
I would have assumed a price of $3.50 would be more appropriate.
An FMG offer of 1 FMG for 2 BCI WOULD only just be a premium to the current cash offer so FMG would need to add some cash to a 1 for 2 share offer. Twenty cents would be just fine.
insult, page-5
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