For the life of me I cannot understand what possessed the MIN board in believing they could engineer a favourable outcome for themselves by taking a minority stake in AQA.
All they basically did was give the other AQA shareholders a free option on the upside in the highly unlikely event that Boasteel/AZJ might match or exceed MIN's 375c offer.
Now that has not eventuated, all MIN is left with is a minority stake in a company about to embark - under the control of its new, big, well-capitalised controlling shareholders - on a significant capital investment program, the funding of which will leave MIN highly diluted and with a five-year wait before they see any return.
Either that, or MIN also accepts AZJ/Baosteel's 340c cash offer, lose $18m on their investment, and look pretty silly in the process.
You couldn't write a movie script like this.
Truly bizarre.
For the life of me I cannot understand what possessed the MIN...
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$54.60 |
Change
-1.340(2.40%) |
Mkt cap ! $10.78B | |||
| Open | High | Low | Value | Volume |
| $55.80 | $55.83 | $54.60 | $8.588M | 155.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 895 | $54.60 |
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| Price($) | Vol. | No. |
|---|---|---|
| $54.62 | 68 | 3 |
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| Last trade - 11.54am 22/07/2024 (20 minute delay) ? |
| MIN (ASX) Chart |