It is interesting to compare the takeover of FMS, - recommended by its directors, - and that of HDF, strongly recommended against by its directors. Both have occurred in last few weeks.
FMS has settled steadily ever since near the bid price, while HDF is currently well bid ABOVE the net takeover offer price. FMS was straight cash, HDF is cash and scrip.
The takeover panel is now involved, (see HDF news) and the takeover is anything but settled. But bidders seem keener than ever, and bid the price up to $2.05 late Friday. Almost the opposite to what you might expect.
I thought this story this morning was interesting, - timed at 4:10am DJ newswire;
Chinese companies expected to be frontrunners among possible strategic partners for ALL - America Latina Logistica's BRL7.6 billion Vetria iron ore project in west Brazil, SLW Corretora's Pedro Galdi says. "The Chinese are seeking iron ore stakes the world over," Galdi says.
Vetria partner won't come from Brazil: neither MMX nor Vale likely to be interested, according to Galdi. Barclays Capital adds both MMX and Vale already have
high-cost mining/shipping operations at Corumba, where Vetria will be located. Vetria management saying project won't proceed if no strategic partner found, Galdi notes.
I take that to mean that the Chinese may be stepping in where others fear to tread?
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80.5¢ |
Change
0.005(0.63%) |
Mkt cap ! $160.8M |
Open | High | Low | Value | Volume |
80.5¢ | 80.5¢ | 80.5¢ | $1.24K | 1.54K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 2531 | 79.0¢ |
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Price($) | Vol. | No. |
---|---|---|
89.0¢ | 2368 | 1 |
View Market Depth
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1 | 16200 | 0.760 |
2 | 5573 | 0.740 |
1 | 1309 | 0.700 |
1 | 7246 | 0.690 |
Price($) | Vol. | No. |
---|---|---|
0.890 | 2368 | 1 |
0.910 | 20000 | 1 |
0.980 | 10000 | 1 |
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