Overnight we saw CF return to the bidding war for rival fertiliser producer Terra Industries. The new bid stands at US$4.7 billion. The local market responded favorably with both IPL and MAK up by 3.8% and 4.9% respectively. Conversely, POZ fell to a level equal to its lowest price ever.
- No broker support
- No institutional support
....and now the support from all the mums and dads is all but gone.
It's all very well to come up with a CAPEX of $425m but at the end of the day what do they/we expect to get in return?
What is the NPV?
Where is the timeline?
What are the milestones?
Overnight we saw CF return to the bidding war for rival...
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