Xstrata would naturally be motivated by self interest. Would anyone care to fathom why the IRN board has not bothered to reply to the following email and I quote: "Mr B. Philips, Chairman, I find it hard to believe that a carte blanche authority is a prerequisite to explore the best options. One would have thought the company directors already have an authority and responsibility to explore this and then put a definite proposal to shareholders. I will be voting against the resolution." I am certainly left wondering whose interests are being pursued by the proposal!
IRN Price at posting:
66.0¢ Sentiment: None Disclosure: Held
