IOH 0.00% 70.0¢ iron ore holdings limited

Hey doc & regulars, Some great comments and thoughts from what...

  1. 2,303 Posts.
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    Hey doc & regulars,

    Some great comments and thoughts from what you guys have posted.

    Something to consider from the teleconference the other day was that Morgan Ball (bci) and Alwyn were doing a roadshow today, tomorrow and Friday in the eastern states with brokers and insto's, so many of the 'big boys' will only be fully briefed by weeks end. There were many broker questions during the teleconference who, when asking questions, stated " as we don't cover ioh, can you elaborate on...." so i believe there are still a lot of brokers crunching the numbers on the deal. I'll be more interested to see how the sp finishes up on Friday arvo's close (excluding outside forces) after the roadshow than the last few days.

    With regard to other offers, i was surprised to see min confirm they are out. I immediately thought, after making such a deal of wanting to be involved in the aqa bid "what do they know that we don't.......???".

    I reckon Bci are worried about Bao and that is why the deal has been structured the way it has - 'time critical', particularly with regard to securing ACE. Bao are currently digesting aqa, so what better time to sneak in and snap up ioh.....

    It is on the record that ioh have had talks with Bao so they would surely have a good knowledge of, and data on, Bucklands. As you say doc, I'm thinking it's all about control - Bao having to spend another say $260mil to get ioh may or may not be a major concern to them. If they truly want Bucklands and the bci/ioh deal goes through they will only have to pay more down the track, so their hand may be forced. Bao are certainly going to have to spend a heap on ankatell.

    And if Bao do enter the frey, what will Bci do? They do need another mine.....

    The next two weeks in particular shall be very interesting. Exciting times indeed.

    Cheers,
    Mac


    Please dyor
 
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