So getting back to the original question. I think there is zero...

So getting back to the original question. I think there is zero chance of FMG taking over a bank. It has no real synergies with their existing business and I doubt the board members have much experience in that area.
BSL? Well it’s a fraction more likely as at least they could consider vertical integration. But I’ve never heard them express any desire for this, and are the benefits really that significant? BHP did the exact opposite 20 odd years ago when they created Bluescope and Onesteel.
What FMG management have expressed is a desire to diversify into other mining industries like copper, gold and lithium. These industries have some differences from iron ore, but it’s a logical next step. I wouldn’t be surprised if they attempted a significant take-over in this space in the next 1 to 2 years.