RE: Freeport to Acquire Phelps DodgeDuring the Inco/teck takeover month back in May, Aur was trading around $16 when M&A started. Between May 3rd and May 10th they climbed from 16.69 to 20.30 (closing balances) for a 22% increase. We closed at 19.61 on Friday. If history repeats itself we could go up to $23 to $24 over the next few days. Will it come down again from these levels after that? Maybe. Or will there be more M&A activity taking place which would involve AUR. Again, we know that Gill had talks with private equity groups. In any case AUR will be at $30 and then $35+ with or without a takeover.
It's a winner no matter what.