BCI would be a fantastic acquisition. It's currently trading well below cash levels and they have recently acquired 100% of IOH. This means their Fe resources have dramatically increased.
However, I doubt Mike Young (founder and ex director of BCI) will ever let the Indians take BCI. If anything, FMG will be the best candidate to take them over at a premium due to their longstanding history.
Let's not forget BHP and RIO.
P.S - We need to see the Indians actually utiilise a decent LOC before a major acquisition like BCI
LCY Price at posting:
0.9¢ Sentiment: None Disclosure: Held
