Post by
nizza on Jul 23, 2024 12:12pm
A purchase offer can be rejected
Fortescue is known to hold 31% of Alta's shares.
If Fortescue wants to buy Alta, they can make an offer to the other 69% shareholders.
This offer must be examined. If it does not reflect the value of Alta, such an offer must be rejected.
Fortescue can then improve it. If they set the price too low, another major could develop interest
and there would be a bidding war.
The remaining 69% shareholders are made up of the following:
7.5% Peruvian & High Net Worth
18.5% Funds & Fam
6.8% Directors-Officers
26.2% Retail/Public Float
I am sure that the entire 69% are interested in a fair deal.
In my view, fair means: making the valuation in comparison to similar and comparable properties.
That should be the guideline.
It is therefore up to the 69% shareholders whether they will define and represent their interests.
I firmly believe that they will do so.
Comment by
Sartos1 on Jul 23, 2024 10:29pm
There is 10% missing. The total of 7.5 + 18.5 + 6.8 + 26.2 = 59% not 69 %