Market Update

    FMG gives Red Hawk Mining shareholders a boost

    undefined
    Video Player is loading.
    Current Time 0:06
    Duration 0:32
    Loaded: 100.00%
    Stream Type LIVE
    Remaining Time 0:26
     
    1x
      • Chapters
      • descriptions off, selected
      • captions off, selected
      • default, selected

      Fortescue Metals Group (ASX:FMG) is set to acquire Red Hawk Mining (ASX:RHK) after a successful $254 million takeover bid, exceeding the initial $172 million offer. 

      Over 75% of Red Hawk shareholders accepted the offer, raising the share price from $1.05 to $1.20 and allowing Fortescue to acquire remaining shares. 

      Red Hawk's high-grade Blacksmith project, near Fortescue's Solomon operations, is expected to boost Fortescue's iron ore blend.

      Disclaimer

      Grafa is not a financial advisor. You should seek independent, legal, financial, taxation or other advice that relates to your unique circumstances. Grafa is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on the information provided directly or indirectly by use of this platform.

      Publisher
      Grafa