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The latest update is out from Fortescue Metals Group Ltd ( (AU:FMG) ).
FMG Pilbara Pty Ltd, a wholly-owned subsidiary of Fortescue Metals Group Ltd, has launched an off-market takeover bid to acquire all ordinary shares of Red Hawk Mining Limited. The offer includes a cash consideration of $1.05 per share, which could increase to $1.20 if FMG Pilbara secures at least a 75% interest by early February 2025. The Red Hawk Board has unanimously recommended acceptance of the offer, subject to no superior proposals emerging and the offer being deemed fair and reasonable by an independent expert.
More about Fortescue Metals Group Ltd
Fortescue Metals Group Ltd is a prominent player in the mining industry, primarily producing iron ore. It operates mainly in the Pilbara region of Western Australia, focusing on leveraging its assets to maintain a strong position in the global iron ore market.
YTD Price Performance: 1.07%
Average Trading Volume: 9,304
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $36.39B
Learn more about FMG stock on TipRanks’ Stock Analysis page.
