19
Jun
01:00
Baosteel moves towards Aquila Resources iron ore acquisition
Australian iron ore and coal explorer Aquila Resources has recommended to its shareholders to accept the offer made by the Baosteel Resources/Aurizon Operations syndicate. The offshoot of major Chinese steelmaker Baosteel had last week warned Aquila that it would not raise its bid for the Australian outfit. In early May 2014 the syndicate made a cash offer of AU$3.40 (US$3.20) per share, as reported by Kallanish.
Competition had appeared on the horizon in th…
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Very good overview of the weekly steel market.
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