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Fortescue Metals Group Ltd ( (AU:FMG) ) has issued an announcement.
Fortescue Metals Group Ltd, through its subsidiary FMG Pilbara Pty Ltd, has initiated an off-market takeover bid for all fully paid ordinary shares of Red Hawk Mining Limited. This move indicates Fortescue’s strategic efforts to expand its mining portfolio and strengthen its market position. The acquisition, facilitated by Macquarie Securities (Australia) Limited, will be conducted at or below the offer price of $1.05 per share, with a potential increase to $1.20 per share under certain conditions, during normal trading hours on the ASX.
More about Fortescue Metals Group Ltd
YTD Price Performance: 1.07%
Average Trading Volume: 9,304
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $36.39B
For a thorough assessment of FMG stock, go to TipRanks’ Stock Analysis page.
