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BC Iron Limited (ASX:BCI) is poised to strengthen its Pilbara iron ore portfolio through the acquisition of Iron Ore Holdings Limited (ASX:IOH).Both companies have agreed to enter a bid implementation agreement under which BC Iron will offer to acquire Iron Ore Holdings through an off-market takeover.The deal will see Iron Ore Holdings shareholders receive 0.44 new BC shares and $0.10 in cash for every Iron Ore Holdings share held. The offer values Iron Ore Holdings at $1.59 per share, who last closed at $0.95 ahead of today’s announcement.Iron Ore Holdings board has unanimously backed the offer and its major shareholder, Australian Capital Equity holds a stake of about 53 per cent, also intends to accept the offer.BC Iron reported a net profit of $70.3 million in the first half of the 2014 financial year.
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Last
28.5¢ |
Change
0.005(1.79%) |
Mkt cap ! $836.5M | |||
| Open | High | Low | Value | Volume |
| 28.5¢ | 29.0¢ | 28.0¢ | $52.82K | 184.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 90170 | 28.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 29.0¢ | 16131 | 1 |
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| Last trade - 16.10pm 25/11/2024 (20 minute delay) ? |
| BCI (ASX) Chart |
