As an investor in FMG, I think they wouldn't mind acquiring AGO, but not so much for the IO assets possibly more so for AGO's Port Headland facilities and available expansion rights. The IO would be pure bonus given FMG's nearby rail infrastructure.
However IMO if AGO weren't open to it, then a hostile takeover may not be likely, not this year anyway with their present commitments, but that may just be me. AF has never been shy in moving forward.
AGO Price at posting:
$2.64 Sentiment: None Disclosure: Not Held
