What the shareholder structure tells us As a major shareholder and strategic investor in DNT, Fortescue differs from all other shareholders because it is a mining company that is known to be looking to enter the copper sector.
That's why I would look at the shareholder structure from this perspective in particular.
Fortescue holds 19.6% (shares outstanding) and 17.8% (fully diluted) of all shares.
It will be decisive whether and especially when a purchase offer from a third party comes on the table.
If such is attractive, the 80% majority of shareholders will certainly favor such.
Because 20% Fortescue shares face an 80% majority.