MLX 1.70% 43.3¢ metals x limited

Takeover Candidate

  1. 10,704 Posts.
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    With at least three quality assets in its portfolio and a market capitalization of only $155mil and a wide-open share register, you would have to think that this is a good takeover candidate for the right suitor.
    Just looking at the current share register, there are four substantial shareholders:
    Mitsubishi UFJ Financial Group Inc 8.93%(61.5mil shares)
    Apac Resources Ltd(HK) 8.77%(60.4mil shares)
    IOOF Holdings Ltd(Perennial Value Funds)8.75%(60.3mil shares)
    Jinchuan Group Ltd(China)7.22%(49.75mil shares)
    So those four account for 33.67% of the issued shares. The only possible takeover candidate amongst those would be Apac Resources - it is only a small investment for them at the moment worth $13.6mil. They also own 33.2% of Mt Gibson(MGX) worth $465mil and 7% of Westgold(WGX) worth $45mil. Apac has in the last month raised $80mil in a rights issue and taken out a new borrowing of $45mil for their war chest without further explanation. Maybe they think they can pick up MLX cheaply for 45c/share that would cost them an additional $285mil.
 
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Last
43.3¢
Change
-0.008(1.70%)
Mkt cap ! $394.5M
Open High Low Value Volume
43.5¢ 44.0¢ 42.8¢ $317.1K 730.8K

Buyers (Bids)

No. Vol. Price($)
2 195 43.0¢
 

Sellers (Offers)

Price($) Vol. No.
43.5¢ 91599 14
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Last trade - 13.29pm 20/09/2024 (20 minute delay) ?
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