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Fortescue Metals Group Ltd ( (AU:FMG) ) has provided an update.
Fortescue Metals Group Ltd, through its subsidiaries FMG Pilbara Pty Ltd and associated entities, has increased its voting power in Red Hawk Mining Limited from 87.25% to 88.43% by acquiring additional shares. This increase in voting power follows FMG Pilbara’s off-market takeover bid and on-market purchases, which have strengthened Fortescue’s control over Red Hawk Mining, potentially impacting shareholder dynamics and strategic direction.
More about Fortescue Metals Group Ltd
YTD Price Performance: 6.61%
Average Trading Volume: 8,997
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $38.07B
Learn more about FMG stock on TipRanks’ Stock Analysis page.
