POSCO Joint Venture, page-50

Hi Remirez

The risk of an offer to take over is extremely high. The reality it will never get approved.

My guess is POSCO has no doubt made a play at Galaxy last year behind closed doors and AT and Co immediately said cool your jets, we have a bit of land we will flog off to you to get you in the game. Once secured we can negotiate how we tackle the rest of the Hombre.

There is no way POSCO and Galaxy will build two separate plants. Its a massive game of chess that no doubt started a long time ago.