SMH Article

The fifth biggest iron ore business in Australia is in limbo after an apparent boardroom coup saw a hedge fund take control of American company Cliffs Natural Resources.
Cliffs has struggled for profitability in recent times as prices for its two main products, iron ore and coal, slumped. The austere conditions have prompted some shareholders to campaign for a change of control and a break-up of the assets...........

In a note to clients, Mr Littlewood suggested that listed companies such as Mineral Resources or Cazaly Resources could be a good fit.
"It is not the sort of asset that strategic or Chinese SOE buyers generally get involved in," he said. "A more likely buyer, in our view, would be a nearby corporate that sees some value in Cliffs' infrastructure footprint."


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