Fortescue keeps seat at Atlas

Original article by Peter Ker
The Australian Financial Review – Page: 15 : 7-Aug-18

Fortescue Metals Group has reduced its stake in Atlas Iron from 19.9 per cent to 11.37 per cent, and CEO Elizabeth Gaines says it will retain a strategic stake in the takeover target. This will prevent Gina Rinehart from moving to the compulsory acquisition stage, and force her to work with Fortescue regarding Atlas’s port capacity at Port Hedland. Rinehart has gained more than 50 per cent of Atlas shares.

CORPORATES
ATLAS IRON LIMITED – ASX AGO, FORTESCUE METALS GROUP LIMITED – ASX FMG, MINERAL RESOURCES LIMITED – ASX MIN, ROY HILL HOLDINGS PTY LTD

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