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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Last
$54.96 |
Change
-0.980(1.75%) |
Mkt cap ! $10.86B | |||
| Open | High | Low | Value | Volume |
| $55.80 | $55.83 | $54.55 | $26.20M | 475.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 124 | $59.11 |
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| Price($) | Vol. | No. |
|---|---|---|
| $48.60 | 125642 | 1 |
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| Last trade - 15.59pm 22/07/2024 (20 minute delay) ? |
| MIN (ASX) Chart |