The latest announcement is out from Flinders Mines Limited ( (AU:RHK) ).
Fortescue Ltd, through its subsidiary FMG Pilbara Pty Ltd and associated entities, has increased its stake in Red Hawk Mining Limited to 96.15% from a previous 95.04%. This change is a result of FMG Pilbara’s off-market takeover bid, which involved acquiring additional shares at $1.20 each, both through the acceptance of offers and on-market purchases. This acquisition further consolidates Fortescue’s control over Red Hawk Mining, potentially impacting the company’s strategic direction and stakeholder interests.
More about Flinders Mines Limited
YTD Price Performance: 44.00%
Average Trading Volume: 1
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €153.1M
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