Stokes happy with BC Iron takeover bid

Original article by Peter Ker
The Australian Financial Review – Page: 17 : 12-Aug-14

Australian businessman Kerry Stokes will be the largest shareholder of BC Iron if its $250m cash and scrip bid for Iron Ore Holdings (IOH) succeeds. Stokes has a 25 per cent stake in the target, and the offer of $A0.10 per share plus 0.44 shares in BC Iron for every IOH share would give him a 19 per cent stake in BC. IOH shares rose by $A0.37 to $A1.35 on 11 August 2014, while BC Iron was down $A0.32 at $A2.99

CORPORATES
BC IRON LIMITED – ASX BCI, IRON ORE HOLDINGS LIMITED – ASX IOH, FORTESCUE METALS GROUP LIMITED – ASX FMG, AURIZON HOLDINGS LIMITED – ASX AZJ, SHANGHAI BAOSTEEL GROUP CORPORATION, AQUILA RESOURCES LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, SEVEN GROUP HOLDINGS LIMITED – ASX SVW, NEXUS ENERGY LIMITED – ASX NXS

Leave a comment