Before the potash bid, whenever BHP was around $40, Rio was $70.
Currently Rio is 14% higher at $79.80.
With the same increase, BHP would be $45.60.
Currently BHP is $41.
BHP shareholders own one of the world's most profitable companies. Instead of the boom profits being returned to the BHP shareholders, the Board and their advisors want to give it to the Potash shareholders.
The market via the BHP SP differential is saying that the Potash takeover is destroying value.
I also wonder at these 'advisors'. Goldman Sachs was assisting BHP in the abortive Rio takeover (which cost half a billion dollars) and is now on the Potash side.
It is not in the interest of these advisors to recommend walking away from this deal.
I will continue to hold, but I hope the board will see sense.
is potash bid destroying value?
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Last
$43.40 |
Change
-0.160(0.37%) |
Mkt cap ! $220.1B | |||
| Open | High | Low | Value | Volume |
| $43.11 | $43.56 | $43.09 | $248.4M | 5.730M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 5716 | $43.37 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $43.41 | 4801 | 2 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| BHP (ASX) Chart |