PMM portman limited

merger

  1. 965 Posts.
    Portman (PMM.AU) likely to unveil merger/takeover proposal
    tomorrow from U.S.-based iron pellet producer Cleveland-Cliffs Inc., brokers
    say. Bid may value PMM around A$600 million, they add. "We would expect a bid to
    be lodged tomorrow and Cleveland-Cliffs is the most likely bidder," says Rob
    Brierley, analyst at Patersons Securities. PMM on trading halt, last A$3.05.
 
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