At the risk of becoming the most hated man in Western Australia, I really am enjoying the bravado of the iron ore juniors in the face of the screamingly obvious. From the AFR:
The acquisition of Kerry Stokes’s iron ore vehicle appears almost complete, after BC Iron last night increased its stake in Iron Ore Holdings beyond 90 per cent.
…BC Iron shares were worth $3.31 prior to the deal being announced, but several institutional investors sold down their stakes in the days after the takeover was announced, with some concerned the takeover could interrupt BC Iron’s generous dividend policy.
Managing director Morgan Ball said…“We are looking forward to completing the transaction and advancing Iron Ore Holdings’ attractive, long-life assets,” he said.
Go Morgs, though why you didn’t pull out of the deal I don’t know…
